Kuwait - Mubasher: The Commercial Real Estate Company (Al-Tijaria) entered into a property investment in the US worth $3 million (KWD 915,950) alongside other investors.

The property, located in the town near James Madison University, is a complex of research laboratories rented to PPD Company, according to a filing to Boursa Kuwait on Monday.

Al-Tijaria did not clarify the financial effect of that investment.

The company announced last August that it had entered into a real estate investment in Dubai worth AED 4.47 million.

The Kuwait-listed real estate company's profits stood at KWD 15.3 million in 2016, compared to KWD 20.6 million in 2015, registering a drop of 25.88%.

Al-Tijaria’s share ended Monday's trading stable at 80 fils, achieving liquidity of KWD 23,190 after 289,820 shares were exchanged.