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A subsidiary in the United Arab Emirates signs a purchase contract (hotel / hotel apartments)

A subsidiary in the United Arab Emirates signed a purchase contract of (hotel/hotel apartments) and the purchase consideration amounting to AED395 million equivalent to 32.7 million Kuwaiti Dinar. The Hotel / Hotel apartments are expected to be opened on January 2020, The purchase consideration will be financed through a financing facility from a bank in Kuwait with a total value of 19 million Kuwaiti Dinar at an appropriate interest rate and a flexible repayment period.