Seef Properties announced the financial results for the first nine months of 2017 recording BD7.93 Million in net profits, a 11.2% increase from BD7.13 posted during the same period last year. Net profits for the third quarter of 2017 reached BD2.73 Million compared to BD2.64 Million recorded during the same period last year.
Seef Properties also reported an operating income of BD4.63 Million during the third quarter of 2017 compared to BD3.89 Million posted during the same period in 2016, marking an increase of 19.1%. Meanwhile the operating profit witnessed a growth of 9.4% from BD3.79 Million posted during the third quarter of 2017 when compared to BD3.46 Million recorded during the same period last year.
“Seef Properties is proud of it continuous achievements this year culminating in an 11.2% increase in its net profit compared to the same period last year. This is a testament to our rigorous strategy focused on positioning Seef Properties as a key contributor to the overall growth and development of the real estate industry in the Kingdom of Bahrain. We are committed to improving our investments by providing high-end products and services in-line with international standards,” said the Chairman of Seef Properties, Mr. Essa Najibi.
“The Kingdom has witnessed a healthy boost in the economy, especially within the real estate sector. This is evident in the launch of real estate development projects around the country with a number of other projects in the pipeline by numerous industry players. Seef Properties is up-to-date with the changing market trends and is looking forward to launch a project that will be announced soon,” he added.
Further commenting on the financial results, the Chief Executive Office of Seef Properties, Mr. Ahmed Yusuf said: “Seef Properties performance reflects the efforts exerted by the Board Members and the entire team who are striving to enhance its position in the local market. We look forward to continue achieving positive financial results in the future in line with our mission aimed at providing safe investments to our valued clients by adopting a long-term strategy that relies primarily on expanding its investment portfolio.”
Headquartered in the Kingdom of Bahrain, Seef Properties was launched in 1999 and it is a publicly listed company.