MENA Real Estate Company, in a statement to Boursa Kuwait on Thursday, January 4, 2024, confirmed the receipt of a letter from its subsidiary, Rasmal Holding.
The letter indicated that Kuwait Finance House (KFH) Bahrain branch had successfully sold a property owned by Rasmal Holding through a public auction. The property was sold for BD 1,932,000 (one million nine hundred and thirty-two Bahraini Dinars).
KFH is now in the process of deducting this amount from the debt owed by Rasmal Holding Company. MENA clarified that this development will not have any financial impact.