Al Masaken International Real Estate Development stated that it is on doorsteps of purchasing land plot in Kuwait worth of KWD6.4 million ($22 million).

The company noted in a bourse statement, that the land plot set forth will be developed in order to enhance the company revenues.

The land purchase will be financed with 50% by bank loans and the rest 50% through self- finance, added the statement.

Al Masaken is a public company, listed on Kuwait Stock Exchange since October, 2008 and operates within the real estate sector focusing on diversified real estate activities. It has 5 subsidiaries operating across Kuwait.