Mubasher: Aayan Leasing and Investment announced a loss of KWD 668,000 ($2.21 million) from its investment in Egypt’s third real estate portfolio, according to a bourse statement issued on Tuesday.
The realised loss was registered following the disclosures by Aayan Real Estate and Mubarrad Holding Co on Monday; the two firms suffered losses in their property portfolios in the Egyptian market.
Aayan Leasing clarified that losses were reflected in the consolidated income statements directly by KWD 231,000 and indirectly by KWD 437,000.
