RealCapita net surges 72pc to $15m
Bahrain-based real estate investment company RealCapita's net profit soared by 72 per cent to $15.1 million last year, out of a revenue of $24.8 million.
The results for the company's second year in operation were announced at its board meeting by chairman Ahmed bin Ali Al Dhaheri.
'The distinguished achievements realised by RealCapita to-date are indicators of its persistent ambition for success and excellence,' said Al Dhaheri.
By the end of its second year in operation, the company proved its ability to pursue its growth strategy as stipulated in the diligently drafted business plan.
These returns have come on the back of an increase in the value of the projects and investments currently managed by the company.
The 'outstanding' results achieved by RealCAPITA in its relatively short time in operation have come as a result of its sustained efforts and ambitions, which coincided with its entry into the European and Saudi markets, says the company.
The RealPalais project on the French-Swiss border and the Jubail Development company established in the industrial city of Jubail are providing RealCapita with exposure in two of the most vibrant and rapidly developing real estate markets.
Progress in its local projects has been rapidly advancing with the construction activities in Amwaj Gateway being initiated on the heel of its launch and construction being well underway in RealSuites in Umm Al Hassam and RealGardens in Jasra.
'Our experiences and accomplishments to-date will only serve to propel us further and move us from success to greater success, as we continue to set and redefine higher standards and reinforce the position we achieved for ourselves amongst the other real estate investment companies,' said Al Daheri.
President and vice-chairman Mohammed Al Tawash said the company has been able to initiate the construction process on a number of projects, with total areas under construction to date exceeding 18 million square foot.
'To continue our leading role in introducing new development practices to the region, RealCapita pioneered the concept of Green Buildings in Bahrain through establishing an exclusive sponsorship to the Green Building Council of Bahrain and making our signature development in Bahrain, Amwaj Gateway, the first project in Bahrain to obtain Green Building Certificate through adopting the Leadership in Energy and Environment Design criteria for new constructions,' he added.
Source:
Trade Arabia News |
