Mubasher: Al Masaken International Real Estate Development announced it has signed a contracting agreement to build a residential tower in Mahboula town, Kuwait.

The contract is valued at KWD 3.42 million ($11.3 million), according to a bourse statement on Wednesday.

In September, Al Masaken announced it has sold some of its assets at a value of KWD 500,000 to increase its liquidity.