Mubasher: Salhia Real Estate has sold a property worth GBP 20.74 million or KWD 8.4 million in the UK, according to a bourse statement on Tuesday.
The Boursa Kuwait-listed firm has sold this asset through its 50%-owned subsidiary in the UK, Key Property Investments, a UK limited company owned equally by Salhia and St Modwen Properties.
A net profit worth KWD 1.98 million will be realised and registered in the income statements of the fourth quarter of 2018, the statement added.
In the first nine months of 2017, Salhia Real Estate achieved a growth of 36.6% in profits to KWD 11.04 million compared to KWD 8.06 million in the same period a year ago.
