Kuwait Syrian Holding announced on Sunday that it signed a preliminary contract to sell one of its properties in Kuwait for KWD 1.85 million to an unnamed buyer.

The sale is likely to generate profits of KWD 175,000, according to a bourse statement.

The Kuwait-based firm turned to losses in the first quarter of 2015, as it suffered KWD 10,740 in losses against KWD 1.11 million in profits for the same period of 2014.  

The multi-sector firm is capitalised at KWD 17.6 million, distributed across 176 million shares at 100 Kuwaiti fils par value each.