Mubasher: The Commercial Real Estate Company (Al Tijaria) recorded a growth of 99% in profits to KWD 3.88 million ($12.83 million) in the second quarter this year compared to KWD 1.95 million ($6.45 million) in the same period in the prior year.

During the first half of 2017, Al Tijaria posted a rise of 45.2% in profits to KWD 7.78 million from KWD 5.36 million in H1-16, according to a bourse filing issued on Wednesday.

The rise in profits is attributed to higher net leasing revenues, as well as Al Tijaria’s revenues from hotels.

In the first quarter of 2017, the company posted a growth of 14.7% in profits to KWD 3.9 million from KWD 3.4 million in Q1-16.

At the stock level, Al Tijaria closed Wednesday’s session 1.56% lower at 82.1 fils.