Al Imtiaz Investment Group sold a property in Oman for KWD 1.026 million ($3.4 million) to Albilad Real Estate Investment, said a filing to the Kuwaiti bourse.

The deal is not expected to impact on the company's financial statement, Al Imtiaz said Tuesday.

The Kuwaiti listed firm reported net profits of KWD 4.11 million in the first quarter of 2015, against KWD 3.99 million in losses for the same period of the previous year.