Al Tijaria achieves net profit of KD 5,837,543 in Q2
KUWAIT CITY, Aug 6: Abdulfatah M.R. Marafie, Chairman of The Commercial Real Estate Company “Al-Tijaria” has stated that the business outcome of the company for the financial period which ended on 30.06.2019, resulted in achieving net profits of KD 5,837,543 (Five million eight hundred and thirty seven thousand five hundred and fortythree Kuwaiti Dinar). The return on shareholders’ equity is 2% and the return on the capital is 3.3%.
Marafie further stated that the company continuously seeks to maintain its pace of operations and successes by focusing on operating profits, which enhances the company’s net profits and cash flows in line with the objectives and strategies set taking into account the current economic and political conditions and repercus
Abdulfatah M. R. Marafie
sions on the global and surrounding markets.
With regards to Symphony Tower - Bahrain, Marafie said that Al-Tijaria now welcomes clients to visit the fully furnished Model apartments on the 9th floor in Symphony Tower to experience fine ambience and superior quality. The project is set for completion and handover by the beginning of 2020.
Moreover, Marafie added that the Al-Tijaria is now is preparing for the official opening of the “Dine Zone” in Al-Fintas which consists of 26 Villa Style Restaurants with a charming view overlooking the sea directly. The total area of the project is 8,300 M² and 96% of the total units have been leased. Four restaurants and cafés have been opened so far and 21 units are due to open in the next few months.
Marafie added that the company held several events during the second quarter of 2019 in order to enhance its vital role in the field of social responsibility and its keenness to implement the principles of corporate governance. These events included the “Rafad” weekly charity campaign, and the “Rafad Ramadan” campaign, which contributed to providing Ramadan groceries to more than 150 of less unfortunate families with the help of volunteers from Ameer Al Insaniya Group and Symphoy Style Hotel staff.
To conclude, Marafie expressed his deepest gratitude and appreciation to all shareholders, The Board of Directors and all employees for their efforts, continuous support, and stressing that the company devotes all its potential to achieve a promising future vision and works on developing its capabilities to create continuous growth and achieve outstanding profits and added value to shareholders.