Kuwait Real Estate Holding Company has recently made an announcement to Boursa Kuwait. According to the statement, one of its subsidiaries, Al-Omran Real Estate Development Company, has received an offer to purchase an investment property located in the Khobar area of the Kingdom of Saudi Arabia. 

  The value of the offer amounts to approximately 110,500,000 million Saudi riyals, which is equivalent to around 9,080,115 KD. After careful consideration, the company has decided to accept the offer and proceed with the sale of the property. 

  As a result of this decision, the property will be reclassified as assets held for sale instead of being included in investment properties in the consolidated statement of financial position. This reclassification follows the guidelines set forth by IFRS 5, which deals with "Non-current assets held for sale and discontinued operations." 

  The company has indicated that the financial impact of this transaction will be disclosed at a later date, once the sale is finalized.