Kuwait Financial Center Company announced that it has sold a real estate project in Germany, where land has been developed and warehouses are built that are compatible with Amazon industrial buildings.
The center said in a statement to the Kuwaiti Stock Exchange, today, Wednesday, that the project achieved an internal rate of return of 38.68%, and a return on investment of 48%.
The company clarified that the material impact of the previous information on the group's financial statements is to increase the total revenues and total assets by about 827 thousand dinars.
The company had converted to a loss last year of 1.72 million dinars, compared to 2019 profits of 6.96 million dinars.
