Mubasher: Arkan Al Kuwait Real Estate has announced that it bought 1,000 square metres building in Shuwaikh Industrial Zone in consideration of KWD 1.5 million ($4.93 million).

The financial impact of the deal will appear in the company’s annual statements, according to a bourse statement released on Thursday.

Earlier in May, the Kuwait-listed company purchased a commercial property at a value of KWD 6.16 million in an auction held by Al Enmaa Real Estate.

Arkan reported a decrease of 5% during the first quarter that ended on 31 January 2019 compared to the same period a year ago.