Al Dar National Real Estate Company recorded a net profit of KWD 975,490 ($3.25 million) in the fiscal year of 2014, compared to losses worth KWD 2.12 million ($7.06 million) in 2013.

The fourth quarter of 2014 saw losses worth around KWD 121,480 against KWD 2.15 million in Q4-2013, registering a decrease of 94%.

Al Dar noted that the positive turn in 2014 financial results is due to unearned profits from revaluation of investment properties worth KWD 1.9 million.

The board of directors recommended freezing the dividends of the fiscal year ended on 31 December, 2014.

The firm’s capital stands at KWD 42 million, distributed on 420 million shares with a par value of 100 fils a share.