Tamdeen Real Estate Company announced in a statement issued today to Boursa Kuwait that its subsidiary Tamdeen Investment Company has agreed to sell its 99% stake in Spirit Technical Company (K.S.C.C.) to Spirit Real Estate Development Company (K.S.C.C.) for KWD 1.9 million, which will result in a profit of approximately KWD 767,000 for the subsidiary company.

Regarding the impact of the sale process on the company's financial position, it has been stated that a profit will be realized, equivalent to Tamdeen Real Estate Company's share in its subsidiary Tamdeen Investment Company, which amounts to 55.94% or approximately KWD 429,000. This financial impact will be reflected in the interim consolidated financial statements for the second quarter of 2023.