Manama, Kingdom of Bahrain: Seef Properties B.S.C. (Bahrain Bourse Trading Code: SEEF) announced its financial results for the first quarter ended 31 March 2025. The Company reported a net profit and comprehensive income attributable to the parent of BD 1.2 million during the first quarter of 2025, compared to BD 1.4 million for the same period of the previous year, a decrease of 12.5%. The change is attributable to increased market competition and economic fluctuations. Diluted earnings per share attributable to the parent for the first quarter of 2025 amounted to 2.7 Fils, compared to 3.0 Fils for the same period the previous year. The Company’s operating profits stood at BD 2.9 million for the first quarter of 2025, compared to BD 3.3 million for the same period in the previous year, a decrease of 11.9%.

The Company’s total equity (after excluding the equity attributable to minority) for the first quarter of 2025 decreased by 1.8%, reaching BD 159.0 million, compared to BD 161.8 million for the same period in the previous year. Total assets for the first quarter increased by 0.4%, reaching BD 177.8 million compared to BD 177.1 million for the same period in the previous year.  

Commenting on these results, Seef Properties Chairman, Mr. Essa Mohamed Najibi stated, “Seef Properties continues to cement its position as an industry leader with a clear strategic vision and strong adaptability to economic shifts. This quarter’s performance reflects our commitment to financial sustainability and quality growth, particularly in the hospitality and retail sectors. Despite lower revenues this period, some of our destinations have continued to perform well even in the face of growing market challenges and increased competition. The investments we have made and our strategic partnerships are beginning to yield tangible results, building on past achievements.”

He added: “Seef Properties remains committed to delivering high-quality projects that are in line with the objectives of the Bahrain Economic Vision 2030, many of which have been achieved thanks to the support of His Majesty King Hamad bin Isa Al Khalifa and the guidance of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister. We aim to play an active role in the Kingdom’s economic development by creating integrated, market-driven projects that address local needs and attract investor interest. We are also pursuing new, high-impact opportunities that support Bahrain’s competitiveness and reinforce its position as a regional commercial hub.”

Seef Properties Chief Executive Officer, Mr. Ahmed Yusuf said, “The first quarter of this year brought encouraging operational developments that directly enhanced both the quality of our services and the visitor experience across our destinations. Al Liwan, in particular, saw occupancy rates rise to 90%, driven by its diverse retail mix, strategic location, and the added value of Fraser Suites, which helped attract a new segment of visitors and tourists. We remain focused on enhancing our commercial properties by bringing in unique brands, diversifying our retail offerings, and advancing our renovation and expansion plans.”

He added, “As part of our sustainability efforts, the solar energy project we recently launched in partnership with Yellow Door Energy is progressing on schedule. Work is currently underway at all our destinations, and the project is expected to significantly reduce carbon emissions.”

Note: The full set of financial statements and press release are available on Bahrain Bourse's website: bahrainbourse.com

Media contact:
Mohammed Isa
Perceptions PR & Digital
Tel: +973 36620086
Email: mohammed@perceptions.me

About Seef Properties:

Seef Properties B.S.C. was established in the year 1999 and is a public shared company listed on Bahrain Bourse since 2007 with its operations headquartered in the Kingdom of Bahrain, becoming a leader in the retail, hospitality, entertainment and real estate development sectors on the level of the Kingdom. Today, Seef Properties manages a large portfolio of assets, promoting its position as a distinguished commercial brand.  The vision of Seef Properties is centered to its constant strives to become a leading real estate company in innovation and diversity, driven by the implementation of the highest standards and values to achieve its goal in excellence, and the satisfaction of shareholders, partners and clients.  The Company’s message is centered to the development, acquisition and management of a real estate investment portfolio that serves the retail, entertainment and hospitality sectors.