Mubasher: Taameer Real Estate Investment incurred higher losses by 378.8% in the third quarter of 2017 compared to the same period a year ago.
The losses increased to nearly KWD 203,770 ($674,810) in Q3-17 compared to around KWD 42,560 ($140,940) in Q3-16, according to a bourse filing issued on Tuesday.
During the first nine months of 2017, the real estate firm registered a loss of approximately KWD 204,340 compared to nearly KWD 447,940 in the same period a year ago; a year-on-year decline of 54.4% in losses.
The decrease in 9M losses is attributed to lower losses from reevaluating financial assets at fair value (FV).
It is worth noting that Taameer’s losses shrank by 99.9% in the first half of 2017 when compared to the same half a year ago.