Kuwait Business Town Real Estate (KBT`R)

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News

16 April 2020 03:09 PM Kuwait Business Town's unit sells KWD 26m property

Mubasher: Kuwait Business Town Real Estate has sold an investment property owned by one of its subsidiaries to a third party for KWD 26 million, generating a total profit of KWD 307,912. The group is currently undertaking necessary legal …

Companies Investments

13 April 2020 04:27 PM Kuwait Business Town cancels 2019 dividends

Mubasher: The board of Kuwait Business Town Real Estate has decided not to distribute cash dividends for fiscal year (FY) 2019, due to the economic impact caused by the coronavirus (COVID-19) pandemic. The decision, subject to the …

Board of Directors

5 March 2020 09:47 AM Kuwait Business Town’s profit down 1% in 2019; dividends proposed

Mubasher: Kuwait Business Town Real Estate recorded an annual decrease in profits by 0.98% in 2019, registering earnings worth KWD 2.45 million ($8.06 million), compared with KWD 2.48 million ($8.13 million) in 2018.   Earnings per share (EPS) …

Board of Directors

3 February 2020 09:46 AM Kuwait Business Town buys land at KWD 19m

Mubasher: Kuwait Business Town Real Estate signed a preliminary purchase agreement worth KWD 19 million for a plot of land that is designed to be used as an investment property.  Situated at Al Manqaf city of Kuwait, the land spans a total area of …

Companies Investments

14 January 2020 04:39 PM Kuwait Business Town sells investment property at KWD 25.5m

Mubasher: The board of Kuwait Business Town Real Estate Company approved the selling of an investment property to one of the company's subsidiaries at a value of KWD 25.501 million, without achieving a profit nor a loss. The transaction will not …

Board of Directors

3 December 2019 01:20 PM Kuwait Business Town raises sister firm stake to 43%

Mubasher: Kuwait Business Town Real Estate and one of its sister companies purchased an additional stake in another sister company for KWD 1.661 million, according to a bourse statement. As a result, Kuwait Business Town’s investment stake …

Company News

5 November 2019 00:26 PM Kuwait Business Town profits rise 21% in Q3

Mubasher: Kuwait Business Town Real Estate has reported a 21% decrease in profits during the third quarter (Q3) of the year, according to a bourse filing on Monday. Profits amounted to KWD 724,430 ($2.39) by the end of Q3-19, compared with KWD …

Financial Results

8 October 2019 04:08 PM Kuwait Business Town inks KWD 16.5m Islamic loan deal

Mubasher: Kuwait Business Town Real Estate signed a seven-year Islamic credit facilities contract with a local bank at a value not more than KWD 16.5 million. The facilities will be used in the settlement and repayment of KWD 5.6 million worth of …

Real estate

12 May 2019 09:24 AM Kuwait Business Town seeks overseas expansion in 2019 – CEO

Mubasher: Kuwait Business Town Real Estate’s local investments make up around 66% of its portfolio, its CEO said, revealing plans to boost the company’s footprint in the European and US markets this year. Kuwait Business also seeks to offload …

Companies Investments

6 May 2019 09:52 AM Kuwait Business Town’s profit leaps 113% in Q1

Mubasher: Kuwait Business Town Real Estate reported a 113.1% year-on-year surge in profits in the first quarter of 2019. The company’s profits reached KWD 661,700 in Q1-19, compared to KWD 310,400 in Q1-18, according to a filing to Boursa Kuwait. …

Real estate

25 April 2019 05:11 PM Business Town’s shareholders nod to $9.8m bonus share distribution

Mubasher: The general assembly of Kuwait Business Town Real Estate approved the board’s proposal for the distribution of KWD 2.99 million ($9.82 million) in bonus shares. The 29.87 million bonus shares will be distributed on 23 May, according to a …

Management Decisions

6 March 2019 01:11 PM Business Town FY18 income declines; 5% bonus proposed

Mubasher: Kuwait Business Town Real Estate posted KWD 974,000 ($3.12 million) profits during the fourth quarter of 2018 compared to KWD 1.48 million ($4.88 million) in the same period a year ago. During fiscal year 2018, Business Town registered a …

Board of Directors

21 February 2019 01:28 PM Kuwait Business Town to pay Al mazaya $3m on court ruling

Mubasher: Al Mazaya Holding announced that the court of cassation in Kuwait has issued a final ruling in favour of the company against Kuwait Business Town Real Estate. Upon this verdict, Business Towa Real Estate will pay approximately KWD …

Real estate

4 February 2019 02:23 PM Business Town buys KWD 12m asset

Mubasher: Kuwait Business Town Real Estate has purchased a commercial property at a value of KWD 11.8 million ($39.9 million) through signing a five-year credit facility contract with a local bank. The credit facility contract is valued at KWD 8.3 …

Companies Investments

24 January 2019 00:51 PM Kuwait Business Town logs KWD 117,000 profit from property sale

Mubasher: Kuwait Business Town Real Estate on Thursday announced selling a local investment property in Farwaniya for KWD 1.45 million ($4.78 million). The Kuwaiti company achieved net profit of KWD 117,000 from the property sale, which will …

Companies Investments

30 October 2018 04:07 PM Kuwait Business Town 9M profits fall to KWD 1.5m

Mubasher: Kuwait Business Town Real Estate achieved an increase of 46.6% in profits during the third quarter of 2018 compared to the same quarter a year ago. Earnings grew to about KWD 917,570 ($3.03 million) in Q3-18 from KWD 626,000 ($2.07 …

Financial Results

11 July 2018 03:26 PM Business Town buys EUR 3m asset in Belgium

Mubasher: Kuwait Business Town Real Estate announced that it has purchased a land plot to develop Brussels centre in Belgium, according to a bourse statement on Wednesday. The land plot is valued at EUR 2.7 million (KWD 963,000) with a total space …

Company News

10 May 2018 04:12 PM Business Town Q1 profits drop 60%

Mubasher: Kuwait Business Town Real Estate posted a decline of 59.8% in profits during the first quarter of 2018 compared to the same period in the previous year. Earnings declined to around KWD 310,450 ($1.03 million) in Q1-18 from nearly KWD …

Real estate

29 April 2018 00:45 PM KBT's recent banking facilities worth $24m

Mubasher: Kuwait Business Town Real Estate (KBT) on Sunday affirmed that total credit facilities that it has recently signed with a local lender amounted to $24.2 million, not $36.2million as circulated in media. The five-year $24.2 million loan …

Banking and Finance

26 April 2018 10:24 AM KBT inks $36.2m banking facilities

Mubasher: Kuwait Business Town Real Estate (KBT) on Thursday announced the signing of $36.2 banking facilities with a local lender. The five-year loan could be renewed at a value of $24.2 million, according to the company’s statement to Boursa …

Companies Investments

19 March 2018 04:09 PM Kuwait Business Town to pay 3 fils/shr dividends for FY17

Mubasher: The ordinary general meeting (OGM) of Kuwait Business Town Real Estate approved the board’s recommendation to distribute 3% of capital as cash dividends for fiscal year 2017. Kuwait Business Town will pay 3 fils per share dividends for …

General Assembly

26 February 2018 04:47 PM 60 listed firms post 5% decline in Q4-17 profits

By: Mohamad Farouk Mubasher: The income statements of 60 companies listed on Boursa Kuwait reported a decrease of 4.9% in profits during the fourth quarter of 2017 compared to the same quarter in 2016. Earnings of the total 60 firms declined to …

Cash Dividends

12 February 2018 02:46 PM Kuwait Business Town acquires $11.6m property in US

Mubasher: Kuwait Business Town Real Estate has bought a residential real estate building in Phoenix, Arizona in the U.S. at a total value of $11.6 million. This investment comes within the company’s expansion plan on the international level to …

Trading Activities

5 February 2018 00:00 PM Kuwait Business Town FY17 profits slightly rise

Mubasher: Kuwait Business Town Real Estate reported a decline of 21.8% in profits during the fourth quarter of fiscal year 2017 compared to the same period last year. Earnings decreased to KWD 1.47 million ($4.92 million) in Q4-17 from KWD 1.88 …

Financial Results

24 October 2017 04:36 PM Business Town Q3 profits increase 83.2%

Mubasher: Kuwait Business Town Real Estate achieved a growth of 83.2% in profits during the third quarter of 2017 compared to the same period in the previous year. Earnings grew to KWD 626,000 ($2.08 million) in Q3-17 from around KWD 341,760 …

Financial Results