Mubasher: Gulf Bank of Kuwait (GBK) announced on Sunday that the First Instance Court has decided to commence selling procedures of a property mortgaged to the bank and owned by Durrat Al Dar Real Estate.
The sale of the 231.8 square-metre property located in Fahaheel District was set to take place on Thursday, 14 September, according to a bank statement to Boursa Kuwait.
The court rescheduled the sale to 16 November 2017 at KWD 99 million, indicating that the new price is 10% lower than the price set for the September sale, the bank added.
No bidders made any bids on Thursday, 14 September, prompting the rescheduling of another sale, the bank explained, according to the statement.
GBK’s stock closed Sunday in the green, adding 1.69% to reach 241 fils.
