Mubasher: Arkan Al Kuwait Real Estate has signed the final contracts to purchase properties at a value of KWD 5.45 million, with an 8.7% return.

The contracts were registered at the Land Registry of the Ministry of Justice, according to a disclosure to Boursa Kuwait on Monday.

Arkan referred that the contract’s financial impact will be registered in the annual financial statements.

It is noteworthy to mention that during its fiscal year ended 31 October 2019, Arkan posted a decline of 19.2% in profits to KWD 2.32 million, compared to KWD 2.87 million during the corresponding period in 2018.