Seef Properties signs agreement with EWA to join KAFA'A program
The agreement marks another milestone in Seef Properties' ongoing efforts to implement smart, sustainable solutions across its portfolio. The company recently launched a major solar energy project to supply all its destinations with clean energy. With a total capacity of 8.9 megawatts, the project is expected to generate around 14,000 megawatt-hours of clean electricity annually, reducing carbon emissions by over 10,000 metric tons each year.
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Biz Bahrain
3 days ago
- Biz Bahrain
Seef Properties reports Bd2.7 Million Net Profit Attributable to shareholders of the parent for the six-month period ended 30 June 2025
Seef Properties B.S.C. (Bahrain Bourse Trading Code: SEEF) announced its financial results for the second quarter ended 30 June 2025 and six months period ended 30th June 2025. The Company reported a net profit and comprehensive income attributable to the parent of BD 1.5 million during the second quarter of 2025, compared to BD 1.7 million for the same period of the previous year, a decrease of 13.3%. The change is attributable to increased market competition and economic fluctuations. Diluted earnings per share attributable to the parent for the first quarter of 2025 amounted to 3 Fils, compared to 4 Fils for the same period the previous year. The Company's operating profits stood at BD 2.9 million for the second quarter of 2025, compared to BD 3.2 million for the same period in the previous year, a decrease of 9.3%. The Company reported a net profit and comprehensive income attributable to the parent of BD 2.7 million for the six-month period ended 30th June 2025, compared to BD 3.1 million for the same period last year, a decrease of 12.9%. Basic and diluted earnings per share attributable to the parent for the six months period ended 30th June 2025 amounted to 6 fils, compared to 7 fils for the same period of the previous year. The Company reported a decrease in operating profit for the period ended 30th June 2025 by 10.4%, reaching BD 5.8 million, compared to 6.5 million for the same period of the previous year. Revenues for the period ended 30th June 2025 decreased by 9.7%, reaching 7.5 million, in comparison with the BD 8.3 million reported in the same period last year. The Company's total equity (after excluding the equity attributable to minority) for the second quarter of 2025 decreased by 0.9%, reaching BD 160.4 million, compared to BD 161.8 million for the same period in the previous year. Total assets for the second quarter decreased by 1.4 %, reaching BD 174.7 million compared to BD 177.1 million for the same period in the previous year. Commenting on these results, Seef Properties Chairman, Mr. Essa Mohamed Najibi stated: 'Our strategy continues to focus on diversifying our portfolio and enhancing the performance of our existing assets. Our balanced business model has helped us achieve several important milestones, including the signing of a second agreement to develop a large-scale mixed-use project in the Kingdom of Saudi Arabia. This is in line with our regional expansion plans and our ambition to share Seef Properties' expertise in real estate development, hospitality, and entertainment, while also building strategic partnerships that position us as a key contributor to Bahrain's economic growth and achieving the objectives of Economic Vision 2030.' Mr. Najibi expressed appreciation for the Kingdom's continued national achievements under the leadership of His Majesty King Hamad bin Isa Al Khalifa, and the follow-up of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister. He added: 'Seef Properties remains committed to its role as a leading national company that contributes to economic development while consistently delivering value to shareholders and customers. Looking ahead, we will focus on launching high-quality, distinctive projects that respond to market needs, support urban growth in the region, and boost our competitive edge. We will continue investing in initiatives that reinforce Bahrain's leadership position and support its sustainable development goals.' Seef Properties Chief Executive Officer, Mr. Ahmed Yusuf said: 'At Seef Properties, we are executing a well-planned strategy to boost occupancy across our developments through targeted and attractive initiatives. In line with this, we have begun implementing our redevelopment plans, which mark an important new phase for the company. We are preparing for a full-scale transformation of Seef Mall – Seef District, reintroducing it in a modern form that reflects evolving visitor expectations through facility upgrades, service improvements, and new concepts that blend comfort with variety. We are also working to attract more top-tier local and international tenants and to diversify the mix of services offered to visitors. As a result, we have seen an increase in occupancy levels and signed new agreements that support our portfolio growth and enhance revenue sustainability.' Mr. Yusuf added: 'We are equally focused on enhancing visitor experience through environmentally conscious initiatives, most notably our solar energy project, which will supply clean electricity to all our commercial destinations. This is in line with our vision to improve quality of life in the Kingdom of Bahrain and support its commitment to meeting the highest global sustainability standards.'
Biz Bahrain
27-07-2025
- Biz Bahrain
Bahrain launches National Policy for the Use of Artificial Intelligence, adopts GCC ethical manual
The Information and eGovernment Authority (iGA) has launched the National Policy for the Use of Artificial Intelligence (AI) on its official website and announced the adoption of the GCC Guiding Manual on the Ethical Use of AI. This initiative, implemented in line with the directives of General Shaikh Rashid bin Abdullah Al Khalifa, Minister of Interior and Chairman of the Ministerial Committee for Information and Communication Technology, reflects the Kingdom's commitment to establishing a comprehensive framework for the responsible and ethical use of AI. Mohammed Ali Al Qaed, Chief Executive of the iGA, said that the policy aims to harness AI to support economic and social growth, enhance government efficiency, and ensure the secure and ethical application of AI in line with Bahrain Economic Vision 2030 and the Sustainable Development Goals. He emphasised that the policy adheres to national and international ethical and legal standards. He noted that the policy underscores compliance with key national laws and frameworks, including the Personal Data Protection Law, the Law on the Protection of State Documents and Information, the Open Data Policy, and the GCC Guiding Manual on the Ethical Use of AI. He also highlighted the importance of government entities in educating and enabling national talent to use AI technologies professionally and ethically. Al Qaed outlined the iGA's efforts to deliver training programmes and workshops to build awareness among public sector employees, particularly in critical sectors such as health, education, and public services, contributing to Bahrain's competitiveness at the regional and global levels. He emphasised the government's commitment to integrating AI into public services in a systematic and unified manner, ensuring the alignment of related initiatives and investments to maximise performance, streamline services, and deliver tangible benefits to citizens and residents. The national framework also seeks to enhance public trust in advanced technologies and foster a sustainable, innovation driven digital society. The National Policy targets government officials, developers of digital services, decision makers, academics, researchers, and beneficiaries of smart government services. It focuses on four key pillars: commitment to relevant laws and policies, encouraging AI adoption in government, empowering employees with AI knowledge and skills, and reinforcing partnerships to support innovation. The GCC Guiding Manual on the Ethical Use of AI serves as a complementary framework to the national policy, reflecting shared regional values that emphasise respect for human dignity, alignment with Islamic principles and national identity, and a commitment to sustainability, cooperation, and human wellbeing. It is founded on four core ethical principles: safeguarding human autonomy in decision making, ensuring safety and the prevention of harm, promoting fairness and equality, and protecting privacy and data integrity. The iGA concluded that the integration of the policy and ethical charter provides a strong foundation for responsible AI governance, supporting institutional digital transformation, public confidence, and the development of a sustainable and innovative society. BNA(R)
Daily Tribune
21-07-2025
- Daily Tribune
Seef Mall reimagines future
TDT | Manama Seef Properties has announced a bold relaunch plan for Seef Mall in the Seef District, aiming to reimagine the Kingdom's oldest mall for a new generation. Over the next two years, the destination will undergo a phased transformation blending retail, entertainment, and lifestyle spaces under a modern, climate-aligned vision. The redevelopment begins with a facelift to the jewellery section to match Bahrain's growing appetite for luxury. Global fashion brand Kiabi, making its debut in the country, will be among several new international names setting up shop at the mall. Family and fun A major draw will be the revival of Magic Island, now reborn with over 3,900 square metres of themed fun and 600 square metres dedicated to immersive games for children. A separate 2,500-square-metre youth zone will offer creative and recreational programming tailored to the tastes of Gen Z and families alike. Dining, too, is getting a makeover, with indoor-outdoor concepts designed to enhance the visitor experience. Upgraded parking and green spaces, including shaded walkways and family gathering zones, aim to improve access and comfort. Sustainability push More than a cosmetic overhaul, the redevelopment embeds climate goals into its core. Energy- and water-saving technologies will be introduced to cut the mall's carbon footprint, supporting Bahrain's 2060 net-zero ambition. 'This strategic redevelopment reflects our long-term vision,' said Ahmed Yusuf, CEO of Seef Properties, noting the project's alignment with both market trends and national economic development. Future focus Seef Mall, which pioneered integrated shopping and entertainment in Bahrain, now seeks to redefine what it means to be a destination in a post-pandemic, eco-conscious era. As retail pivots toward immersive and sustainable experiences, this makeover positions Seef Mall to remain at the forefront of the region's evolving consumer landscape.
