Mubasher: The board members of United Real Estate agreed on investing in a property firm owning a number of land plots of various purposes among the Hessah Al Mubarak project.

The participation in this investment accounts for 33.3% or KWD 19.8 million as a cash share that will be paid in installments over three years, according to a bourse statement issued on Tuesday.

United Real Estate clarified that this investment aims to develop the purchased land plots in the coming five years in order to build residential, commercial, and entertainment units.

The company expected realising an estimated profit margin that may increase or decrease based on the development of the project.