Mubasher: Kuwait Business Town Real Estate on Thursday announced selling a local investment property in Farwaniya for KWD 1.45 million ($4.78 million).

The Kuwaiti company achieved net profit of KWD 117,000 from the property sale, which will appear in the financial results for the first quarter of 2019, it said in a statement to Boursa Kuwait.

In mid-January, Kuwait Business Town announced achieving KWD 175,000 in profit from selling a KWD 2 million local investment property. 

During the first nine months of 2018, Kuwait Business Town’s profits declined 9% to KWD 1.535 million from KWD 1.686 million in the corresponding period in 2017.

By 11:53 am Kuwait time, Kuwait Business Town’s stock was unchanged at 46.8 fils.