Seef Properties, one of the leading real estate developers in Bahrain, has unveiled its financial statements for 2018 which showed an achieved net profit that exceeds the BD11.12m mark, indicating a 0.5% increase in profit from last year.
The announcement came during the company’s latest meeting where the Board of Directors decided to issue a recommendation to the General Assembly to distribute 15% cash dividends with a total value of BD6.9m, 0.015BD per each dividend. This increased the earnings per share by 0.4 fils from 23.33 fils in 2017 to 23.73 fils in 2018.
In his comment on the recorded net profit, Mr. Essa Mohamed Najibi, the Chairman of Seef Properties has assured that the financial results reflect the developer’s success and commitment in strengthening its position in the Bahraini property market through its mixed-use projects in spite of the unstable conditions of the market.
Mr. Najibi also expressed his satisfaction with the progress which the development of Liwan project is making. In March 2018, Seef Properties unveiled Liwan, the new BD50m mixed-use development in Hamala which is situated in a location that overlooks Wali Al Ahd highway spanning a total area of 122,000 square meters.