Commercial Real Estate sells property in Saudi at KD 23.5 million

05/03/2012 10:34 AST

The Commercial Real Estate Company announced on Sunday selling a number of floors in a real estate project in Mecca to an investor in Kuwait at the value of 23.5 million Kuwaiti dinars.

The company said, on the Kuwait Stock Exchange (KSE) website, that this deal resulted in a total profit of around KD 4.5 million.

The company's stock traded for KD 0.92 per share, rising five Kuwaiti fils compared to the early trading on Sunday, with 15 million shares traded, worth KD 1.3 million till 11 a.m. The Commercial Real Estate Company was founded in 1968 at a capital of KD 183 million, and listed in Kuwait Stock Exchange since 2004. Kuwait Finance House owns a seven percent stock.


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