Kuwait: Rasmal to buy KWD 10m assets from Mena Real Estate

Kuwait: Rasmal to buy KWD 10m assets from Mena Real Estate

The board of Mena Real Estate reached a preliminary approval on the offer submitted by its subsidiary Rasmal Holding Company to purchase some of the first’s assets and investments worth KWD 10.25 million.

The transaction’s material impact will be determined after the conclusion of the deal and ownership transfer procedures, according to a statement to the Kuwaiti bourse on Thursday.

The board further approved the interim financial results for the third quarter (Q3) ended on 31 December 2019.

It is worthy to note that during the six months ended 30 September 2019, the real estate firm incurred KWD 115,380 losses.