Al-Ti­jaria achieves a net profit of KD 8,383,474 at end of Q3, 2016

Kuwait Times - - BUSINESS -

Ab­dul­fa­tah M R Marafie, Chair­man of The Com­mer­cial Real Es­tate Com­pany has stated that the busi­ness out­come of the com­pany for the pe­riod which ended on 30.09.2016 re­sulted in achiev­ing net prof­its of KD 8,383,474 (Eight mil­lion three hun­dred & eighty three thou­sand & four hun­dred & seventy four Kuwaiti di­nar).

With 9 per­cent growth com­pared to the same pe­riod of 2015. The out­comes has also re­sulted in achiev­ing a growth in share­hold­ers’ equity with a per­cent of 5.4 per­cent and growth in re­turn on share­hold­ers’ equity with a per­cent of 3.4 per­cent and a growth in re­turn on Cap­i­tal with a per­cent of 9 per­cent com­pared to the same in­di­ca­tors of the same pe­riod in 2015.

Marafie also added that, “The Com­mer­cial Real Es­tate Com­pany has been able to strengthen its po­si­tion as a real es­tate pi­o­neer and an in­te­gral part of the over­all con­struc­tion growth in the state of Kuwait. AlTi­jaria con­tin­ues this march with suc­cess, main­tain­ing its com­mit­ment, in­no­va­tion and devel­op­ment for a bet­ter fu­ture with sig­nif­i­cant ac­com­plish­ments and in­no­va­tive real es­tate so­lu­tions by de­liv­er­ing real es­tate projects (res­i­den­tial and com­mer­cial) with high qual­ity that de­liv­ers lux­ury and devel­op­ment.”

Marafie also an­nounced that, “The Com­pany has en­tered a new real es­tate in­vest­ment in the king­dom of Nether­land worth 5 mil­lion Eu­ros equiv­a­lent to KD 1,699,600 (One mil­lion and six hun­dred and ninety nine thou­sand and six hun­dred Kuwait di­nar) in al­liance with a group of in­vestors. This ac­quired prop­erty is the head quar­ter of Heerema Marine Con­trac­tors”.

Nev­er­the­less, he added that di­ver­si­fy­ing Al-Ti­jaria’s in­ter­na­tional in­vest­ment port­fo­lio will fol­low the com­pany’s strat­egy in di­ver­si­fy­ing in­come gen­er­at­ing real es­tate in­vest­ments in terms of geo­graphic and sec­to­rial lo­ca­tion for the pur­pose of main­tain­ing our in­vest­ment port­fo­lio and guar­an­tee con­tin­u­ous good re­sults.

Marafie fur­ther stated, Al-Ti­jaria con­tin­ues or­ga­niz­ing and sup­port­ing so­cial re­spon­si­bil­ity ini­tia­tives as part of its cor­po­rate gover­nance prin­ci­ples in­clud­ing “Rafad” weekly meal dis­tri­bu­tions. It’s worth men­tion­ing that “Rafad” as a non­profit project aims at rais­ing aware­ness about the con­sump­tion of food. “Rafad” vol­un­teers work on weekly ba­sis to dis­trib­ute dates and ex­tra food from Sym­phony Style Ho­tel restau­rants and spe­cial oc­ca­sions or the freshly cooked food in the ho­tel’s kitchen.

Marafie con­cluded by an­nounc­ing that The Com­mer­cial Real Es­tate Com­pany is de­vot­ing all its re­sources towards achiev­ing its fu­ture vi­sion based on strong ca­pa­bil­i­ties and po­ten­tials. The Com­pany works con­tin­u­ously on de­vel­op­ing and in­vest­ing these ca­pa­bil­i­ties based on strate­gic plans made to achieve con­tin­u­ous growth and ex­cep­tional prof­its along with an added value to the share­hold­ers.

Ab­dul­fa­tah M R Marafie

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