Mubasher: Kuwait Real Estate announced it has purchased a land plot on which Arabella project is built, according to a bourse statement on Monday.

The Boursa Kuwait-listed company acquired this asset for a value of KWD 2.75 million ($9.1 million).

This purchase transaction will not result in an impact on Kuwait Real Estate’s financial position.

At the stock level, Kuwait Real Estate closed Monday’s session at 47.6 fils.