Latest news with #EssaMohamedNajibi
Daily Tribune
12-05-2025
- Business
- Daily Tribune
Seef Properties reports BD1.2m Q1 profit
Seef Properties yesterday reported a first quarter net profit and comprehensive income attributable to the parent of BD 1.2 million, compared to BD 1.4 m for the same period of the previous year, a decrease of 12.5%. 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 2.7 Fils, compared to 3.0 Fils for the same period the previous year. Operating profits stood at BD 2.9 m, compared to BD 3.3 m for the same period in the previous year, a decrease of 11.9%. Total equity (after excluding the equity attributable to minority) for the first quarter of 2025 decreased by 1.8%, reaching BD 159.0 m, compared to BD 161.8 m for the same period in the previous year. Total assets for the first quarter increased by 0.4%, reaching BD 177.8 m compared to BD 177.1 m for the same period in the previous year. Commenting on these results, Seef Properties Chairman, Mr. Essa Mohamed Najibi stated, 'This quarter's performance reflects our commitment to financial sustainability and quality growth, particularly in the hospitality and retail sectors. Despite lower revenues this period, some of our destinations have continued to perform well even in the face of growing market challenges and increased competition. The investments we have made and our strategic partnerships are beginning to yield tangible results, building on past achievements.' He added: 'Seef Properties remains committed to delivering high-quality projects that are in line with the objectives of the Bahrain Economic Vision 2030, many of which have been achieved thanks to the support of His Majesty King Hamad bin Isa Al Khalifa and the guidance of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister. We aim to play an active role in the Kingdom's economic development by creating integrated, market-driven projects that address local needs and attract investor interest. We are also pursuing new, high-impact opportunities that support Bahrain's competitiveness and reinforce its position as a regional commercial hub.' Seef Properties Chief Executive Officer, Mr. Ahmed Yusuf said, 'The first quarter of this year brought encouraging operational developments that directly enhanced both the quality of our services and the visitor experience across our destinations. Al Liwan, in particular, saw occupancy rates rise to 90%, driven by its diverse retail mix, strategic location, and the added value of Fraser Suites, which helped attract a new segment of visitors and tourists. We remain focused on enhancing our commercial properties by bringing in unique brands, diversifying our retail offerings, and advancing our renovation and expansion plans.' He added, 'As part of our sustainability efforts, the solar energy project we recently launched in partnership with Yellow Door Energy is progressing on schedule. Work is currently underway at all our destinations, and the project is expected to significantly reduce carbon emissions.'
Biz Bahrain
12-05-2025
- Business
- Biz Bahrain
SEEF PROPERTIES REPORTS BD1.2 MILLION NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS OF THE PARENT FOR THE PERIOD ENDED 31 MARCH 2025
Seef Properties B.S.C. (Bahrain Bourse Trading Code: SEEF) announced its financial results for the first quarter ended 31 March 2025. The Company reported a net profit and comprehensive income attributable to the parent of BD 1.2 million during the first quarter of 2025, compared to BD 1.4 million for the same period of the previous year, a decrease of 12.5%. 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 2.7 Fils, compared to 3.0 Fils for the same period the previous year. The Company's operating profits stood at BD 2.9 million for the first quarter of 2025, compared to BD 3.3 million for the same period in the previous year, a decrease of 11.9%. The Company's total equity (after excluding the equity attributable to minority) for the first quarter of 2025 decreased by 1.8%, reaching BD 159.0 million, compared to BD 161.8 million for the same period in the previous year. Total assets for the first quarter increased by 0.4%, reaching BD 177.8 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, 'Seef Properties continues to cement its position as an industry leader with a clear strategic vision and strong adaptability to economic shifts. This quarter's performance reflects our commitment to financial sustainability and quality growth, particularly in the hospitality and retail sectors. Despite lower revenues this period, some of our destinations have continued to perform well even in the face of growing market challenges and increased competition. The investments we have made and our strategic partnerships are beginning to yield tangible results, building on past achievements.' He added: 'Seef Properties remains committed to delivering high-quality projects that are in line with the objectives of the Bahrain Economic Vision 2030, many of which have been achieved thanks to the support of His Majesty King Hamad bin Isa Al Khalifa and the guidance of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister. We aim to play an active role in the Kingdom's economic development by creating integrated, market-driven projects that address local needs and attract investor interest. We are also pursuing new, high-impact opportunities that support Bahrain's competitiveness and reinforce its position as a regional commercial hub.' Seef Properties Chief Executive Officer, Mr. Ahmed Yusuf said, 'The first quarter of this year brought encouraging operational developments that directly enhanced both the quality of our services and the visitor experience across our destinations. Al Liwan, in particular, saw occupancy rates rise to 90%, driven by its diverse retail mix, strategic location, and the added value of Fraser Suites, which helped attract a new segment of visitors and tourists. We remain focused on enhancing our commercial properties by bringing in unique brands, diversifying our retail offerings, and advancing our renovation and expansion plans.' He added, 'As part of our sustainability efforts, the solar energy project we recently launched in partnership with Yellow Door Energy is progressing on schedule. Work is currently underway at all our destinations, and the project is expected to significantly reduce carbon emissions.'
Zawya
12-05-2025
- Business
- Zawya
Seef Properties reports BD1.2mln net profit attributable to shareholders of the parent for the period ended 31 march 2025
Manama, Kingdom of Bahrain: Seef Properties B.S.C. (Bahrain Bourse Trading Code: SEEF) announced its financial results for the first quarter ended 31 March 2025. The Company reported a net profit and comprehensive income attributable to the parent of BD 1.2 million during the first quarter of 2025, compared to BD 1.4 million for the same period of the previous year, a decrease of 12.5%. 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 2.7 Fils, compared to 3.0 Fils for the same period the previous year. The Company's operating profits stood at BD 2.9 million for the first quarter of 2025, compared to BD 3.3 million for the same period in the previous year, a decrease of 11.9%. The Company's total equity (after excluding the equity attributable to minority) for the first quarter of 2025 decreased by 1.8%, reaching BD 159.0 million, compared to BD 161.8 million for the same period in the previous year. Total assets for the first quarter increased by 0.4%, reaching BD 177.8 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, 'Seef Properties continues to cement its position as an industry leader with a clear strategic vision and strong adaptability to economic shifts. This quarter's performance reflects our commitment to financial sustainability and quality growth, particularly in the hospitality and retail sectors. Despite lower revenues this period, some of our destinations have continued to perform well even in the face of growing market challenges and increased competition. The investments we have made and our strategic partnerships are beginning to yield tangible results, building on past achievements.' He added: 'Seef Properties remains committed to delivering high-quality projects that are in line with the objectives of the Bahrain Economic Vision 2030, many of which have been achieved thanks to the support of His Majesty King Hamad bin Isa Al Khalifa and the guidance of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister. We aim to play an active role in the Kingdom's economic development by creating integrated, market-driven projects that address local needs and attract investor interest. We are also pursuing new, high-impact opportunities that support Bahrain's competitiveness and reinforce its position as a regional commercial hub.' Seef Properties Chief Executive Officer, Mr. Ahmed Yusuf said, 'The first quarter of this year brought encouraging operational developments that directly enhanced both the quality of our services and the visitor experience across our destinations. Al Liwan, in particular, saw occupancy rates rise to 90%, driven by its diverse retail mix, strategic location, and the added value of Fraser Suites, which helped attract a new segment of visitors and tourists. We remain focused on enhancing our commercial properties by bringing in unique brands, diversifying our retail offerings, and advancing our renovation and expansion plans.' He added, 'As part of our sustainability efforts, the solar energy project we recently launched in partnership with Yellow Door Energy is progressing on schedule. Work is currently underway at all our destinations, and the project is expected to significantly reduce carbon emissions.' Note: The full set of financial statements and press release are available on Bahrain Bourse's website: Media contact: Mohammed Isa Perceptions PR & Digital Tel: +973 36620086 Email: mohammed@ About Seef Properties: Seef Properties B.S.C. was established in the year 1999 and is a public shared company listed on Bahrain Bourse since 2007 with its operations headquartered in the Kingdom of Bahrain, becoming a leader in the retail, hospitality, entertainment and real estate development sectors on the level of the Kingdom. Today, Seef Properties manages a large portfolio of assets, promoting its position as a distinguished commercial brand. The vision of Seef Properties is centered to its constant strives to become a leading real estate company in innovation and diversity, driven by the implementation of the highest standards and values to achieve its goal in excellence, and the satisfaction of shareholders, partners and clients. The Company's message is centered to the development, acquisition and management of a real estate investment portfolio that serves the retail, entertainment and hospitality sectors.
Bahrain This Week
22-03-2025
- Business
- Bahrain This Week
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).
Biz Bahrain
20-03-2025
- Business
- Biz Bahrain
Seef Properties' Annual General Meeting approves distribution of BD 4.09 million in cash dividends to shareholders and elects new Board of Directors
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).
