Seef Properties Approves BD 4.09M Dividends, Elects New Board
Seef Properties B.S.C. (trading code: SEEF) held its Ordinary Annual General Meeting on 19 March 2025 at 1 p.m. at Al Liwan Cinema to review and approve key agenda items.
Chaired by Seef Properties Chairman, Mr. Essa Mohamed Najibi, the meeting was attended by the Company's Board Members, Chief Executive Officer Mr. Ahmed Yusuf, other Executive Management team members, and representatives from the Ministry of Industry and Commerce, the Central Bank of Bahrain, Bahrain Bourse, and Bahrain Clear. The meeting reviewed the Company's financial results and major achievements over the past year.
The Ordinary Annual General Meeting approved the financial results for the year ended 31 December 2024 and the recommendations of the Board of Directors, which included a 9% cash dividend distribution to shareholders, amounting to BD 4.09 million (9 fils per share), and the allocation of BD 170,000 towards charitable and community initiatives under the Company's Corporate Social Responsibility program.
Seef Properties reported a net profit attributable to the shareholders of BD 5.61 million for the year ended 31 December 2024, compared to BD 6.44 million in the previous year, reflecting a 12.94% decline. The basic and diluted earnings per share attributable to the parent company's shareholders stood at 12.26 fils for the financial year ended 31 December 2024, down from 14.00 fils in the previous year. Operating profit for the financial year ended 31 December 2024 reached BD 12.32 million, marking an 11.70% decrease from BD 13.95 million in the previous year.
The Ordinary Annual General Meeting saw the election of a new Board of Directors, with nine members elected for a three-year term, and the remaining position appointed by the Social Insurance Organization. Essa Mohammed Najibi, Sattam Sulaiman Al Gosaibi, and Mohammed Ebrahim Al Bastaki were re-elected, Anwar Mohamed Ali Murad, Zayed Ali Rashed Al Amin, Majed Abdulla Al Khan, Ahmed Habib Ahmed Kassim, Sara Khalil Nooruddin, and Ahmed Al Mutawa were elected, while Sahar Rashed Al Mannai was appointed by the Social Insurance Organization.
Seef Properties Chairman Mr. Essa Mohammed Najibi stated: 'Looking at the past year, we are proud to have been able to execute several ambitious strategies, particularly our regional expansion into the Saudi market. This milestone marks a significant step forward and enhances our ability to capitalize on the region's emerging opportunities. Seef Properties' achievements in 2024 have strengthened our standing in retail, hospitality, and entertainment. As we move forward, we remain committed to developing projects that drive Bahrain's economic growth in line with Bahrain Vision 2030, while exploring new opportunities to strengthen our industry leadership.'
Mr. Najibi added: 'We deeply value the government's continuous support and our strong partnership with the Ministry of Tourism. This underscores the success of such public-private collaborations in the Kingdom, which have not only enhanced Bahrain's position as a premier tourist destination but also highlight Seef Properties' contributions to the national economy and sustainable development.'
Seef Properties Chief Executive Officer Mr. Ahmed Yusuf said: 'We continue to consolidate our market presence by expanding across the real estate, retail, hospitality, and entertainment sectors, in line with our commitment to Bahrain's economic growth. By attracting leading global and regional brands, we enhance the appeal of our projects and create premium, diverse shopping experiences. Widening our partnerships and investments portfolio, we aim to deliver exceptional experiences that exceed the expectations of residents, visitors, and businesses alike.'
Seef Properties achieved several key milestones in the past year, including a strategic partnership with Majd Investment to develop a mixed-use project in Dammam, marking the Company's first regional venture. The launch of Fraser Suites Al Liwan strengthened its hospitality portfolio, while the introduction of a solar energy project in Bahrain demonstrated the Company's commitment to sustainability, aligning with both Bahrain Vision 2030 and the UN's Sustainable Development Goals (SDGs).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Syyaha
17 hours ago
- Syyaha
flynas Celebrates Launching Direct Flights Between Riyadh and Damascus Becoming the first Saudi airline to connect the two countries in 12 years
flynas, the leading low-cost airline in the world and the best LCC in the Middle East, celebrated launching direct flights Between Riyadh and Damascus on Thursday, June 5, becoming the first Saudi airline to connect the two countries in 12 years, further expanding its network in line with flynas growth and expansion plan, launched under the title 'We Connect the World to the Kingdom,' in parallel with the objectives of the National Civil Aviation Strategy to enable national air carriers to contribute to connecting KSA with 250 International destinations and to accommodate 330 million passengers and to host 150 million tourists yearly by 2030 and the objectives of the Pilgrims Experience Program (PEP) to facilitate access to the Two Holy inaugural ceremony was held at King Khalid International Airport (KKIA) in Riyadh on Thursday, June 5, attended by the Syrian Charge d'Affaires Hussain Abdulaziz and representatives from flynas and the Riyadh Airports Company, which manages and operates KKIA, as well as media representatives. Travelling guests on the departing inaugural flight to Damascus were welcomed with giveaways, and the aircraft was received with a 'water salute' upon its arrival at Damascus International Airport, in the presence of the Saudi Charge d'Affaires Abdullah Al-Haris, and representatives from the Syrian General Authority of Civil Aviation, flynas, and Damascus International flights to the Syrian capital confirms flynas' commitment to strengthening ties between the two brotherly nations, as the leading LCC has been a pioneer in providing air routes between the Kingdom and various Syrian cities. flynas previously operated direct flights from Riyadh and Jeddah to Damascus, Aleppo, and operates 139 routes to more than 70 domestic and international destinations in 30 countries with more than 2000 weekly flights and has flown more than 80 million passengers since its launch in 2007, with the aim to reach 165 domestic and international destinations within its growth and expansion plan, and in line with the objectives of Vision 2030. Passengers traveling with flynas can book their flights through all flynas booking channels: the flynas app, the call centre (920001234), or travel agents.
Daily Tribune
2 days ago
- Daily Tribune
Zain Bahrain honours Loyalty Champion
TDT| Manama Aaya Ahmed Abdulla Mansoor Mahfoodh Hujair, a retail sales employee at Zain Bahrain, has become the company's first winner under the Kingdom's new national 'Loyalty Rewards' initiative, marking a milestone in Bahrain's drive to boost employee recognition and workplace belonging. Aaya, who has worked with Zain Bahrain for two years, was named among the first cohort of recipients in the programme and received a BD 300 reward. The award celebrates dedication and service, with Aaya expressing her gratitude and saying the recognition made her feel valued and encouraged. Recognition leadership Zain Bahrain is the first telecommunications company in the Kingdom to participate in the Loyalty Rewards programme, which was launched in partnership with Hope Talents. The company said the initiative aligns with its broader internal culture that prioritises appreciation, motivation, and talent development. The Loyalty Rewards programme is designed to promote a sense of purpose and belonging across Bahrain's workplaces by rewarding long-term commitment and performance. It complements Zain's existing employee recognition strategy, which includes regular internal acknowledgements of innovation, excellence, and service. Shaping culture The initiative reflects a growing trend among leading companies in Bahrain to create more engaging and human-centred work environments. Zain's participation underlines the role of the private sector in national efforts to improve workforce satisfaction and reduce turnover.
Biz Bahrain
3 days ago
- Biz Bahrain
Vatel Bahrain Showcases Premier International Hotel Management Education at Alumni Club Expo in Dammam
Vatel Bahrain took part in the Bahraini-Saudi University Expo, held in Dammam, Kingdom of Saudi Arabia. Organised by the Alumni Club in collaboration with Asas Al-Elaqa for Exhibitions. The event welcomed the participation of a wide array of universities, colleges, institutes, and educational and training academies from Bahrain, Saudi Arabia, and across the Gulf region. Vatel Bahrain's participation at the expo attracted substantial attention from prospective students and visitors, who engaged directly with the college's representatives to gain insight into its distinctive academic offerings. The spotlight was on its flagship bachelor's programme in International Hotel Management, which integrates rigorous academic instruction with immersive, real-world training. This comprehensive curriculum is purposefully structured to develop advanced competencies across the hospitality, tourism, and hotel management sectors—equipping graduates with the skills, versatility, and global perspective required to thrive in today's competitive international hospitality landscape. Commenting on the participation, Sheikh Khaled bin Khalifa Al Khalifa, General Director of Vatel Bahrain, underscored the college's commitment to participating in educational exhibitions to introducing prospective students to its programmes, and noted that such engagements are pivotal in raising awareness of Vatel Bahrain's role in enhancing academic and professional opportunities within the hospitality industry. Sheikh Khaled commented, 'We are particularly eager to participate in exhibitions held in Saudi Arabia, as Vatel Bahrain is among the institutions officially recommended for Saudi students pursuing studies abroad. Our participation in the Expo underscores Vatel Bahrain's ongoing commitment to advancing regional academic collaboration and broadening access to quality education across the Gulf.' Sheikh Khaled further emphasised that the expo served as a valuable platform for engaging directly with prospective students expressing interest in Vatel Bahrain's International Hotel Management programme. 'Our objective is to support students by addressing their queries, providing tailored academic guidance, and highlighting the unique advantages of pursuing higher education within an internationally recognised and forward-looking academic environment,' Sheikh Khaled stated. 'Vatel Bahrain continues to solidify its position as a premier regional centre of excellence in tourism, hospitality, and hotel management education—and we warmly welcome aspiring students to be part of this transformative journey.'
