Kuwait – Mubasher: Mabanee Company has sold a land plot in the Salmiya area to Fifth Ring Road Co. at an auction held yesterday, said the company Tuesday in a bourse filing.
The land plot measuring 9,516 square meters was acquired for KWD4 million and under a legal dispute.
Earlier in 2015, Global Research said if this land plot is sold, “the deal could generate a profit to the tune of KWD45mn for the company, which could act as a key catalyst.”
Earnings decreased 1.5% year-on-year to KWD 12.11 million ($39.84 million) in Q3-16 from KWD 12.29 million ($40.43 million) in Q3-15.
