Mubasher: Mubarrad Holding, formerly known as Mubarrad Transport, has received a report from the director of the company’s third real estate portfolio in Egypt.
The report said that procedures for liquidating the property portfolio have begun with a decline of 60%, according to a bourse statement disclosed on Monday.
Mubarrad has investments worth KWD 119,000 ($395,000) in Egypt’s property portfolio.
It is worth noting that the investment in Egypt’s third real estate portfolio was valued at $306,000 or 9.29% of the portfolio’s capital.
A loss of nearly KWD 106,000 was generated from liquidating this portfolio; this sum was registered in previous fiscal years.
Meanwhile, a loss of KWD 81,000 will be realised in Mubarrad’s income statements for the fourth quarter of 2017.
At the stock level, Mubarrad closed Monday’s session 1.02% higher at 69 fils.
