Kuwait: $16 million land deal reported

The deputy director-general of Pearl of Kuwait Real Estate Company, Ahmad Mohammad al-Ajlan, revealed that the company sold a complex in the region of
Al-Mubarakiya, reported the Kuwaiti newspaper, Al-Qabas on September 6. The deal's value was 4.7 million Kuwaiti Dinars ($16 million), while the profit the company gained amounted to 250,000 Kuwiait Dinars ($856,164). The company used part of this sum to purchase land plots in Al-Aqila for 3 million Kuwaiti Dinars ($10.2 million), part of them it intends to develop and the other part to sell.