Mubasher: Aayan Real Estate announced that its 99%-owned subsidiary Hajar for public trading purchased a commercial residential building in the Emirate of Sharjah, the UAE.

The company has bought the asset for AED 26.78 million or KWD 2.22 million ($7.4 million), as disclosed in a bourse statement on Thursday.

The financial impact from this purchase deal will be an increase in investment and real estate consolidated assets as well as a growth in the company’s operating revenues.