Tawasul
Mubasher TV
Contact Us Advertising   العربية

Kuwait Business Town sells investment property at KWD 25.5m

Kuwait Business Town sells investment property at KWD 25.5m
The transaction will not have any impact on the firm’s financials
KBT
KBT
13.73% 29.00 3.50

Mubasher: The board of Kuwait Business Town Real Estate Company approved the selling of an investment property to one of the company's subsidiaries at a value of KWD 25.501 million, without achieving a profit nor a loss.

The transaction will not have any material impact on the firm’s consolidated financial statements, according to a bourse filing on Tuesday.

It is worth noting that over the nine-month period ended September 2019, the company’s profits increased by 22.8% to KWD 1.88 million from KWD 1.53 million in the corresponding period last year.