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Kuwait Credit Bank lends KD 19.5 million for real estate

KUWAIT, Kuwait Credit Bank (KCB) said on Saturday the total amount of real estate spent in August was KD 19.5 million (USD 64 million).

The total loan portfolio of expansion and restoration amounted to KD 140,000 (USD 460,500), a KCB statement noted.

The statement added that the volume of loans to build private lands sums up to KD 1.2 million dinars (USD 3.9 million) and loans to build government land amounted to about KD 11 million (USD 36 million), while the total number of loans for buying houses reached 3.9 million dinars (USD 12.8 million).

The amount of expenses for the expansion and restoration of private housing amounted to KD 130,000 (USD 430,000), and total loans for the expansion and restoration of government houses was around KD one million dinars (USD 3.3 million), it pointed out.

The statement added that KD 10,000 (USD 33,000) have been spent for loans and grants for concrete houses, whereas for people with disabilities amounted to KD 2.2 million dinars (USD 7.2 million).

Source: Kuwait News Agency