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Kuwait’s Al Enmaa Real Estate said it has sold one of its properties for KWD 1.05 million ($3.46 million), according to Mubasher.
The transaction will result in a net loss of KWD 35,000, which will be reflected on the company’s financials for the fourth quarter of the year, according to Al Enmaa’s statement to Boursa Kuwait on Thursday.
It is worth noting that Al Enmaa Real Estate achieved a surge of 147.7 percent in profits during the first six months that ended 30 April 2019 compared to the corresponding period a year ago.
Earnings grew to KWD 1.38 million ($4.57 million) in the first half ended in April this year from approximately KWD 558,170 ($1.85 million) in the same period in 2018.
