By: Mohamad Farouk

Mubasher: Kuwait Real Estate is forecast to record KWD 5.1 million profits ($16.9 million) in fiscal year 2017 compared to KWD 4.82 million in the previous year, a 5.8% year-on-year increase, capital market analyst Ahmed Jassim Al Qamr told Mubasher.

The Boursa Kuwait-listed firm is expected to distribute 5% of capital as cash dividends for FY17, the analyst said, noting that Kuwait Real Estate did not approve a distribution of dividends or bonus shares for FY16.