Taameer inks contract to buy KWD 5m asset

Mubasher: Taameer Real Estate Investment announced it has sealed a deal to purchase a property in Sharq Area in Kuwait for KWD 5 million ($16.6 million), according to a bourse disclosure on Thursday.

Purchasing this asset will be executed as paying KWD 2.375 million when signing the deal, while the remaining KWD 2.625 million will be paid in January 2019 in return for guarantees.

The impact of buying this asset will be a long-term investment valued at KWD 5 million that will endorse the company’s revenues.

Earlier on Thursday, Taameer said that it was still in the process of negotiating for purchasing this asset of which impact would not be registered until the deal is sealed.

Mubasher Contribution Time: 20-Sep-2018 09:05 (GMT)
Mubasher Last Update Time: 20-Sep-2018 11:16 (GMT)