Mubasher: Sanad Holding on Sunday announced its acquisition of an Albanian real estate firm for KWD 1.45 million ($4.79 million) through one of its subsidiaries.
The acquired firm, whose name has not been disclosed, owns various properties and plots in the Albanian capital of Tirana, Sanad said in a filing to Boursa Kuwait.
It added that it was planning to build a touristic project after the acquisition.
Sanad’s board has also approved the purchase of KWD 2.1 million ($6.94 million) in lands Albania. The purpose of these transactions is to sell its investments at later time provided it receives a good offer for them, it said.
In June, Sanad said it had not yet reached an agreement with Kuwait Finance House (KFH) to acquire 20% of its subsidiary Gulf Investment House (GIH).
