The Board approved the execution of a Memorandum of Understanding for the sale of two plots of land owned by subsidiary Carina Views Real Estate Development Limited, located on Al Reem Island, Abu Dhabi, for AED 400,000,000 (approx. KWD 33,432,000).
Please be informed that the Board of Directors of National Real Estate Company K.P.S.C. (the Company) convened on Wednesday, 15 July 2026, at 1:30 p.m., during which it discussed and approved the execution of a Memorandum of Understanding for the sale of two plots of land owned by one of the Company's subsidiaries Carina Views Real Estate Development Limited, located on Al Reem Island, Abu Dhabi, United Arab Emirates having a combined total area of 13,000.1 square meters, for an aggregate purchase consideration of AED 400,000,000 (approximately KWD 33,432,000).
The market will be notified upon the execution of the Memorandum of Understanding and the completion of the sale transaction, together with the expected financial impact on the Company.
Disclosure Filing — Boursa Kuwait
Reference ID
C_17327
Submission Date
16 July 2026
Items of the Agenda
| # | Circumstance | Details | Result |
|---|---|---|---|
| 1 | Transaction, agreement or action with Significant Effect | Discuss the proposed sale of two plots of land owned by one of the Company's subsidiaries. | Approved |
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