Mubasher: Al Massaleh Real Estate announced that its board of directors has approved signing a contract with Securities Group on behalf of a client to sell a number of properties.
The KWD 49.25 million sell value will be allocated to repay Al Massaleh’s debt to the Commercial Bank of Kuwait (CBK), according to a bourse statement on Monday.
The sell and debt settlement transaction resulted in a loss of KWD 1.3 million that will be registered in the fourth quarter of fiscal year 2018.
