The sword real estate approves the distribution of 4.09 million Bahraini dinars cash profits for shareholders and elects its new board of directors

Sword Real Estate Company was held. (Symbol of Trading on the Bahrain Stock Exchange: Seef) The annual general assembly meeting, on the nineteenth of this March at exactly one o’clock in the Liwan cinema to discuss and approve the items listed in the public agenda.

The meeting was chaired by Mr. Issa Mohamed Najibi, Chairman of the Board of Directors of the company, in the presence of the members of the Board of Directors, the CEO of the company, Mr. Ahmed Youssef, members of the executive management, representatives of the Ministry of Trade and Industry, the Central Bank of Bahrain, the Bahrain Stock Exchange and Bahrain Clearing Company, during which the financial results of the company were reviewed and discussed in addition to the most important achievements it achieved during the past year.

The ordinary general assembly approved the results of the fiscal year ending on December 31, 2024 and the recommendations of the Board of Directors, which included the distribution of cash profits for shareholders at 9% of the nominal value of the share, equivalent to 9 fils per share and a total of 4.09 million Bahraini dinars, and allocating 170 thousand Bahraini dinars for donations and community service.

It is noteworthy that the sword real estate company has registered clear profits and a comprehensive income for the shareholders of the parent company with a value of 5.61 million Bahraini dinars for the financial year ending on December 31, 2024, compared to 6.44 million Bahraini dinars in the same period last year, i.e. a decrease of 12.94%, and the share of the basic and lower share of the profits returned to the shareholders of the parent company during the financial year ended in 31 December 2024 to 12.26 fils, compared to 14.00 fils in the same period last year.

While the value of the company’s operating profits reached 12.32 million BD for the financial year ending on December 31, 2024, compared to 13.95 million Bahraini dinars in the same period last year, a decrease of 11.70%.

The regular general assembly meeting also witnessed the elections of the new board of directors of the company, with the election of nine members of the company’s board of directors for a period of 3 years and the appointment of the remaining position by the Social Insurance Authority. Where it was re -elected by Issa Muhammad Najibi, and Bilaam Suleiman Al -Qusaibi and Muhammad Ibrahim Al -Bastaki, and the following members were elected: Anwar Muhammad Ali Murad, Zayed Ali Rashid Al -Amin, Majid Abdullah Al -Khan, Ahmed Habib Ahmed Qasim, Sarah Khalil Noureddine, and Ahmed Al -Mutawa, in addition to the appointment of Sahar Rashid Al Mannai by the Social Insurance Authority.

On this occasion, the Chairman of the Board of Directors of Al -Seef Real Estate Company, Mr. Issa Mohamed Najibi, said: “We are proud of the achievements that we have achieved during the past year in implementing our ambitious strategies, foremost of which is our regional expansion in the Saudi market.

This step is a milestone in our career, and enhances our ability to seize promising opportunities in the region. We are also proud of the achievements made by the sword real estate during the year 2024, which strengthened our position in the sectors of retail, hospitality and entertainment, and we look forward to achieving more this year, as we will continue our commitment to developing new projects that contribute to supporting the economic growth of the Kingdom, in line with Bahrain Vision 2030, and exploring new opportunities that establish the company’s position and leadership.

He added: “We value the continuous support from the esteemed government and our close partnership with the Ministry of Tourism, which reflects the success of cooperation between the public and private sectors in the Kingdom. This partnership is not limited to enhancing Bahrain’s position as a leading tourist destination, but also confirms the role of the central sword real estate company in supporting the national economy and enhancing sustainable growth.”

For his part, Mr. Ahmed Youssef, CEO of the Sword Real Estate Company, said: “We continue in the Al -Seef Real Estate Company to consolidate our position in the market by expanding the real estate, retail, hospitality and entertainment sectors, in line with our continuous commitment to support economic development in Bahrain.

Our efforts have contributed to attracting the elite of global and regional brands, which strengthened the attractiveness of our projects and provided visitors with a sophisticated and varied shopping experience. By enhancing our partnerships and expanding our investment portfolio, we seek to provide distinguished experiences that meet the aspirations of residents, visitors and companies alike.

It is worth noting that the Saif Real Estate Company has achieved prominent achievements during the past year, including the conclusion of a strategic alliance with the Majd Investment Company to develop a multi -use project in the city of Dammam, which represents the first regional expansion of the company.

The launch of the Switz Liwan Fraser also strengthened the company’s presence in the hospitality sector.

In addition, the sword real estate launched its solar energy project in Bahrain, in a move that reflects its firm commitment to sustainability and the compatibility of its strategies with the Bahrain Vision 2030 and the goals of the United Nations for sustainable development.