Mubasher: Kuwait Business Town Real Estate announced that it has purchased a land plot to develop Brussels centre in Belgium, according to a bourse statement on Wednesday.

The land plot is valued at EUR 2.7 million (KWD 963,000) with a total space of 540 square meters, Business Town added.

The centre will include a multi-use residential complex at a total cost of EUR 7 million.

Business Town expected the complex to be constructed in 28 months, the company noted, highlighting that this investment comes as part of its global expansion plan.

At the stock level, Business Town closed Wednesday’s session 2% lower at 44 fils.