Mubasher: Injazzat Real Estate Development on Sunday announced the successful purchase of a commercial building in Sharq, Kuwait.

The building was bought for KWD 3.2 million ($10.57 million), the developer said in a filing to Boursa Kuwait.

The purchase was self-financed through the company’s available cash, it added.

Injazzat last reported a 24.1% profit fall to KWD 2.17 million between January and June 2018 from KWD 2.86 million in the same period of 2017.

Injazzat’s stock ended Sunday on a stable note at 86 fils, after 10,100 shares were traded at a turnover of KWD 839.

In June, Injazzat announced that a 50%-owned associate had sold a residential building in Bahrain for BHD 10 million ($26.7 million).