Mubasher: The losses of Al Arabiya Real Estate dropped by 37.3% year-on-year during the third quarter of 2019, the financial statements showed.
The losses totalled about KWD 481,000 ($1.59 million) in Q3-19 when compared to nearly KWD 767,000 ($2.53 million) in the corresponding quarter in 2018, according to a bourse filing on Tuesday.
During the period from January to September 2019, the losses retreated by 20.6% to KWD 1.21 million from KWD 1.53 million a year earlier.
The company attributed the losses mainly to higher financing cost.
As regards the first half of 2019, the company achieved 4.4% lower losses at approximately KWD 729,340 from around KWD 763,030 in H1-18.
