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AQARAT Realizes 3.3 Million Kuwaiti Dinars Profit from The Sale of Reem Center in Salmiyah

Kuwait Real Estate Company (AQARAT) announced that it has finalized signing the sale contract of an investment property it owns, being 2,165 square meters, in Salmiya district for a total value of 4.8 Million Kuwaiti Dinars

Mr./ Ibrahim Saleh Al-Tharban – Chairman of the Company said: “In light of the growing activities of selling and buying which Kuwait real estate market is experiencing, and in implementation of the Company’s strategy as approved by the Board of Directors, a building owned by the Company in Salmiya district (Reem Complex Center) was sold to benefit from the high prices in the market, which resulted in net profit of 3.3 Million Kuwaiti Dinars”.

Mr./ Al-Tharban added: “This comes within our endeavors to move forward with new plans, through which we are keen on meeting the expectations of our shareholders by enhancing the Company’s liquidity and utilizing it for new investments and services that would generate beneficial added value and attractive returns for the Company. Today “Aqarat“ is working on developing and constructing new projects in line with the market needs and requirements. At the same time, it is working on renewing its old prestigious assets situated at strategic locations so as to symbolize its permanent legacy. We are certain that these developments will appeal to our shareholders and satisfy our tenants.