Kuwait-based Sanam Real Estate inks deals to buy $8.89mln medical property

The transaction’s impact will reflect on the annual financials

  

Mubasher: Sanam Real Estate has signed the final contracts to purchase a medical property in Kuwait at a value of KWD 2.7 million, with a 9.04% return on investment (RoI).

The contracts were registered in the Real Estate Registration Department of the Ministry of Justice, according to a bourse statement on Tuesday.

The company further noted that the transaction’s impact will reflect on its annual financial statements.

In December 2019, the firm’s board approved purchasing this asset.

It is worthy to mention that over the first nine months of 2019, Sanam Real Estate turned to profits of about KWD 73,540, versus losses worth nearly KWD 57,900 in the corresponding period in 2018.

Source: Mubasher

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