Mubasher: Salhia Real Estate generated a profit of KWD 7.604 million ($25.08 million) from a property sale at Sharjah, Kuwait City.
This came after transferring the ownership of the property to the concerned entities, the real estate company said in a bourse statement.
The sale will be reflected in Salhia’s financial position, once finalised, while the resulting profit will be enclosed in its fourth-quarter earnings results.
It is worth noting that Salhia’s profit dropped by 18.7% to KWD 11.5 million in the first nine months of 2019, compared with KWD 14.15 million over the same period last year.
