Al Tamdeen Real Estate Company posted a net profit of KD7 million ($23.2 million) for the first half of 2017, a 1.3 per cent decline as compared to earnings in the same period of 2016.

The company said in a statement, posted on Boursa Kuwait website, that shareholders' equity totalled KD142.2 million ($471.3 million) in H1 2017 in contrast to KD128.2 million ($424.9 million) in H1 2016.

Assets totalled KD481.9 million ($1.59 billion), liabilities KD253.9 million ($841.5 million), it said.

Al Tamdeen, established in 1982, invests in property in and outside Kuwait. It also develops realty ventures, manages property, establishes and runs real-estate investment funds, conducts studies and provides consultancy.