Kuwait's Al Enmaa Real Estate sells $3.46mln property
Al Enmaa Real Estate achieved a surge of 147.7% in profits during the first six months that ended 30 April 2019
Kuwait City. A wonderful view of Kuwait City from Sharq Market. Image used for illustrative purpose.
Getty Images/ Shahbaz Hussain's Photos
By Staff Writer, Mubasher
Kuwait - Al Enmaa Real Estate Company announced that it has sold one of its properties based in Kuwait for KWD 1.05 million ($3.46 million).
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 2019, 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% 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.
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