Mubasher: The Gulf Bank of Kuwait (GBK) announced the purchase of a property owned by Durrat Al Dar Real Estate for a debtedness worth a total of KWD 92.9 million, according to a bourse statement on Tuesday.
The total value of this property stands at KWD 98.06 million; thus, the GBK has paid KWD 6.06 million as differences between the total value of Durrat Al Dar’s property and the bank’s debtedness.
The financial impact of buying this property will be disclosed once a final court ruling is issued.
At the stock level, GBK closed Tuesday’s session 0.42% lower at 238 fils.
