Mubasher: Arkan Al Kuwait Real Estate has sold two properties in Hawally region at a combined value of KWD 3.7 million ($12.4 million).

Net profits that will result from the sale deal will amount to KWD 1.24 million, according to a statement to Boursa Kuwait on Wednesday.

The deal's profits will be realised in the firm’s financial results for the second quarter of 2018, the statement added. 

On Wednesday, 21 February, the real estate firm will hold its ordinary general meeting (OGM) to consider the board members’ recommendation of distributing 8% of the capital in cash dividends.