UNICAP Investment and Finance announced that its 100% owned subsidiary, Al-Iskan Real Estate, has signed a preliminary sale contract for a commercial space in the Luluat Al-Khairan residential area in the amount of 1.35 million dinars ($4.5 million).
Unicap said in a statement to the Kuwait Stock Exchange, today, Sunday, that the sale advance and the rest of the amount was received upon completion of the sale and real estate registration process.
The company explained that the completion of the deal will result in profits of 25 thousand dinars, and its financial impact will appear upon the completion of the sale process.
Unicap announced in early June that the Housing Real Estate had purchased a property in the Surra area in the State of Kuwait, for a total amount of 3.5 million dinars.
Unicap incurred losses of 181 thousand dinars in the first quarter of this year, compared to losses of about 1.54 million dinars for the same period in 2020, a decrease in losses by 88.3% .
