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Seef Properties registers a 12.2% rise in profit last year

Bahrain - February 22, 2017
عقارات السيف

The leading full-fledged real estate development company “Seef Properties” has said that it has registered a net profit last year of BHD11.04 million, with a 12.2 percent increase over the year before.

The company announced that its gross revenue surged by 9.7 percent to hit BHD15.38 million compared to the BHD14.03 million achieved in 2015.

Under the chairmanship of Essa Najibi, Seef Properties registered a 28 percent rise in the gross revenues of last quarter.

Commenting on this performance, Najibi said that revenues across all sectors have increased which resulted in an increase in the overall operating profit.

Najibi pointed out that last year witnessed two main decisions aimed at achieving medium and long-term return on investments for shareholders.

The first decision was the acquisition of Haykala Investments Company shares in Muharraq Mall Company to increase its shares by 22.5%. The second decision was launching a company to develop BHD40 million mixed-use project.

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