Kuwait – Mubasher: The board of Sanad Holding approved signing a contract for purchasing a usufruct agreement of a land on which a mall is built.
The usufruct contract is worth KWD 12.65 million ($41.3 million), the company said in a bourse filing issued on Wednesday.
Sanad noted that the value of the contract will be registered as debts to be repaid over three years.
Signing the contract will lead to an increase in Sanad’s liabilities by KD 12.65 million, the company added.
