Kuwait: Sanam Real Estate buys medical property for €8.08mln

Kuwait: Sanam Real Estate buys medical property for €8.08mln

Kuwait based company Sanam Real Estate ’s board approved on Wednesday the KWD 2.7 million purchase of a medical property, according to the company’s bourse filing.

The purchase is expected to positively impact the financial earnings results for the upcoming period, with an estimated return on investment (RoI) of 9.04% per annum, according to Sanam’s statement.

Once the deal is concluded, the value of the property will be included in the financial results, while KWD 1.6 million will be added to current liabilities.

Furthermore, the company will receive a return of KWD 20,400 per month on the bought property.

It is worth noting that Sanam turned to profit in the first nine months of this year, recording KWD 73,540, compared with KWD 57,900 for the same period in 2018.