Mubasher: Osoul House Real Estate, a 99%-owned subsidiary of Osoul Investment Company, signed on Sunday a KWD 1.32 million primary contract to sell a property in Hawally region in Kuwait.

The buyer paid KWD 40,000 as down payment, according to a recent statement to Boursa Kuwait.

The deal will be completed after finishing monthly procedures and registry in the Ministry of Justice.

Upon the completion of the sale, Osoul Investment will generate profits of KWD 15,000 to be registered in the financial statements of the first quarter of 2020, the company referred.

It is noteworthy to mention that during the first nine months of 2019, Osoul Investment posted a 79.4% increase in profits to reach KWD 1.6 million, compared to about KWD 892,000 in the same period in 2018.