National Industries Group Holding (KPSC) signed an agreement with a local bank to increase the financing facility for the Aventura Project by KWD 31.4 million.
The total credit facility for the project now reaches KWD 131.6 million with a total tenor of 15 years and eight months.
National Industries Group Holding has provided a joint guarantee for its subsidiaries for up to 50% of the secured debt, capped at KWD 78.96 million.
The financing supports the planned development of a commercial complex and residential units within the Aventura Project.