Kuwait-Mubasher: Aqar Real Estate Investments said Sunday that is has purchased a residential tower in the emirate of Sharjah, UAE, for KWD 2.64 million ($8.73 million).
The 500-meter tower consists of 12 storeys containing 96 apartments and six shops worth AED 32 million.
Aqar said that it got a long-term loan to cover 50% of the cost, while the remaining amount was paid by the company.
The company expected to make an annual return of 11% from the property.
