Mubasher: Osos Holding Group Co said that one of its wholly-owned subsidiaries has purchased an income-generating real estate asset in the UK at a value of KWD 1 million (GBP 2.5 million).

The property is leased to a firm operating in the retail sector, according to a filing to Boursa Kuwait on Sunday.

The expected average annual yield of this transaction will amount to 9%.

Osos further explained that the deal will lead to decreasing tradeable assets by KWD 1 million, along with raising non-tradeable assets with KWD 1 million.

The yield of this transaction will be evaluated starting from the second quarter of 2019.

In the first quarter of 2019, Osos Holding’s profits grew 30.7% to KWD 740,600 from KWD 566,840 during Q1-18.