US-Based Subsidiary of 'Al-Markaz' Signs Agreement to Sell Investment Property
Kuwait Finance House announced signing an agreement to sell an investment property owned by its US-based subsidiary, with financial impact to be disclosed upon completion of the sale.
Translated by Qiyas from الجريدة — Original source
Kuwait Financial Centre (Markaz) announced that its US subsidiary has signed an agreement to sell an investment property, noting that the sale is subject to certain conditions and procedures agreed upon by the relevant parties.
In a disclosure to the Kuwait Stock Exchange, Markaz stated that the financial impact of the transaction involves reclassifying the property’s book value from the real estate investments line item to the assets held for sale line item during the fourth quarter of 2026. It confirmed that the impact of the sale on the consolidated financial statements will be disclosed upon completion of the transaction.
