Mubasher: Arkan Al Kuwait Real Estate has signed the final contracts to buy a commercial property worth KWD 6.16 million, with an 8.4% return.
The property was registered at the Land Registry of the Ministry of Justice, according to a bourse statement on Monday.
The transaction’s material impact will reflect on the company’s annual financial statements.
It is worth mentioning that during the fiscal year ended 31 October 2019, Arkan Al Kuwait reported lower profits by 19.2% at KWD 2.32 million when compared to KWD 2.87 million in 2018.
