Mubasher: First Dubai for Real Estate Development reported a 99.7% drop in profits during the third quarter (Q3) of the year.

Profits amounted to KWD 4,460 ($14,730) in Q3-19, down from KWD 1.66 million ($5.48 million) in the same period last year, according to the company's statement to Boursa Kuwait.

Accordingly, the first nine months of 2019 saw an 87.3% decrease in profits to KWD 372,140, compared with KWD 2.92 million in the corresponding period in 2018.