Agility likely to invest KWD 104m in Sabah Al Ahmed City

Agility likely to invest KWD 104m in Sabah Al Ahmed City

10 September 2020 10:08 AM





























Mubasher: Agility Public Warehousing has expected to invest around KWD 104 million ($361 million) in its project in Sabah Al Ahmed residential area, according to the company's disclosure to the Dubai Financial Market (DFM) and Boursa Kuwait on Thursday.





S2 for Real Estate and Development Company, a wholly-owned subsidiary of Agility, has signed a partnership agreement with Public Authority for Housing Welfare to develop the industrial and storage area in Sabah Al Ahmed City (S2).





The development will take a period of 30 years starting from the date of the project's commercial operations.





It is noteworthy to mention that in the first half (H1) of 2020, the company's net profits declined by 61.3% to KWD 16.21 million, compared to KWD 41.89 million in the same period of 2019.