BEIRUT (Zawya Dow Jones)--Kuwait's United Real Estate Co. said Wednesday it has bought two pieces of land in Qatar for 4.58 million Kuwait dinars ($16.3 million).
The company said in June that it will issue a $100 million sukuk to finance real estate projects.
UREC's second-quarter net profit fell 67.5% to KWD2.05 million from KWD6.3 million a year earlier.
-By Cynthia Darrous, Zawya Dow Jones, +961 1 985757, Cynthia@zawya.com
Copyright (c) 2007 ABQ Zawya Ltd.
(END) Dow Jones Newswires
August 08, 2007 05:20 ET (09:20 GMT)
