Further to National Real Estate Company K.P.S.C.'s (the "Company") disclosure published on 15 June 2026 regarding the execution by one of its subsidiaries, Derwaza Properties Development Limited of a Memorandum of Understanding for the sale of its land located in Reem Island, Abu Dhabi, United Arab Emirates, with an area of 1994.36 square meters, for a total value of AED 52,000,000 (approximately KWD 4,338,880), the Company would like to announce that all definitive transaction documents, including the sale and purchase agreement, and all documents required to transfer ownership of the land, have been duly executed. The purchaser has also delivered to Derwaza a cheque for the purchase price of AED 52,000,000 (approximately KWD 4,338,880).
Accordingly, all procedures contemplated under the Memorandum of Understanding have been completed and implemented. The Company further confirms that there have been no changes to the financial impact previously disclosed.
The Company confirms that is expected to record a profit of approximately one million Kuwaiti dinars on its income statement. This is also expected to be reflected in an increase in shareholders' equity on the balance sheet of approximately one million Kuwaiti dinars.
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