Kuwait-Mubasher: Real Estate Trade Centers (Marakez) reduced its third-quarter losses this year by 16% to KWD 29,400, down from KWD 35,100 in the same period of 2014, according to a bourse filing posted Sunday.

Marakez also announced cutting its losses for the first nine months of this year by 0.98% to KWD 98,800 compared with KWD 99,800 last year.

The company’s negative performance was attributed to higher dollar exchange rate, as it pressured on the available-for-sale investments, at the time that general and administrative expenses were not met with operating revenues.