(MENAFN- Arab Times) Al-Imtiaz Investment Group Company (Al-Imtiaz) announced that its 53.08 percent owned subsidiary Al-Bilad Real Estate Investment Company signed a contract to sell a real estate investment in Sabah Al Ahmad Sea City development for KD 13.56 million to be paid in three payments:
First installment worth KD 3.39 million (25 percent) was paid on Oct 2, 2013; Second installment worth KD 3.39 million (25 percent) to be paid on Oct 2, 2014 ; Third installment worth KD 6.78 million (50 percent) will be paid on Oct 2, 2015. Al-Imtiaz indicated that no loss or profit will be recorded in its financial statements for the sale transaction.
Warba Bank and Noor Islamic Bank announced that it signed a syndicated Murabaha facility with the overseas unit of Indian textile major Alok Industries worth $150 million for a period of a year and a half. Noor Islamic Bank and Warba Bank acted as the mandated lead arrangers for the transaction involving Alok International Middle East.
Tijara & Real Estate Investment Company announced that it signed a preliminary contract to sell a property for KD 7.42 million, making KD 980 thousand profit.
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