Mubasher: Munshaat Real Estate Projects registered an increase of 50% in losses during the first quarter of 2018 compared to the same period in 2017.

Losses deepened to KWD 1.59 million ($5.28 million) in Q1-18 from KWD 1.06 million ($3.52 million) in Q1-17, according to a bourse statement on Tuesday.

The increase in losses is attributed to higher general and administrative expenses in addition to higher financing costs.