Kuwait – Mubasher: An Abu Dhabi subsidiary of Credit Rating and Collection Company (Tahssilat) signed an initial contract to buy two commercial units in Damac Central Tower in Dubai at a value of KWD 229,000 ($748,300).
Tahssilat owns 99% of Credit Rating and Collection in Abu Dhabi (CRC), and the deal did not have a financial impact until now, the company said in a statement to Boursa Kuwait on Wednesday.
The company’s losses deepened 997% reaching KWD 4.99 million in 2016, compared to KWD 454,910 in 2015.
In September 2015, CRC had signed a final contract to buy four units, of which three are residential and one commercial, at Dubai’s Damac Central Tower worth KWD 725,400.
Tahssilat’s stock ended Wednesday’s trading at 30 fils, achieving a liquidity of KWD 235 through trading 7,800 shares.
