Kuwait-Mubasher: Gulf Bank of Kuwait (GBK) said it won a public auction, held on Wednesday, for the land plot of the Capital Tower project that will be executed by AL Dar National Real Estate Company, according to a bourse statement.
The auction’s value was put at KWD 56 million ($186.6 million), GBK said, noting that the bank’s win was part of a settlement of debts due by Al Dar.
On the other hand, Al Dar National clarified in a bourse filing that the estimated financial impact will be losses worth KWD 5 million while the final figure will be known after the debts settlement.
GBK stock levelled up by 1.94% to 210 fils an hour and half from after Thursday’s trading session started, following the trading of about 465,500 shares that generated around KWD 97,800.
