The managing director of the Kuwait-based United Real Estate Company, Omran Habib Hayat, said that the company's shareholders lost some 54.2 million Kuwaiti Dinar ($184.9 million) following the failure to sign the contract for Al-Abdali border passage between Kuwait and Iraq. The company's share lost 100 fils due to this issue, as it is traded at present at 350 fils instead of 450 fils earlier, reported the Kuwaiti newspaper, Al-Rai al-Aam on September 18.
Hayat called on authorities to fulfill its contractual obligations to the company by signing the contract as soon as possible. The company, on its part, respected its obligations by establishing a company for the accomplishment of the project called "United Services Company" (Sharikat al-Marafiq al-Mutahida) and taking care of the necessary logistic preparations.
