Mubasher: Gulf Franchising Holding received a report from an external real estate office to evaluate an investment asset related to the company, according to a bourse disclosure on Wednesday.

The report showed a decrease of KWD 480,000 in the value of the property due to the current conditions in the free zone area in which the real estate asset is located.

The decline in the value of the real estate asset will impact the income statements of Gulf Franchising with a loss of KWD 480,000 that will be registered during the period ended on 31 December 2018.