Seef District, Kingdom of Bahrain: Seef Properties B.S.C. (trading code: SEEF), one of the leading real estate development and integrated asset management companies in the Kingdom of Bahrain, announced its financial results for the first quarter ended 31 March 2026.

The Company reported Net Profit and Total Comprehensive Income attributable to shareholders of the parent of BD0.97 million during the first quarter of 2026, compared with BD1.22 million for the same period last year, representing a decrease of 20.98%. This decline is mainly attributed to the repercussions of regional developments during the past period, which affected the performance of the entertainment and hospitality sectors, in addition to a relative slowdown in consumer spending. Meanwhile, the Company continued to implement its strategic projects and operational plans through an approach focused on enhancing efficiency and diversifying income streams, supporting sustainable growth in the coming periods.

Basic and diluted Earnings Per Share attributable to shareholders of the parent during the first quarter of 2026 amounted to 2.14 Bahraini Fils, compared with 2.69 Bahraini Fils for the same period in 2025. The Company also recorded Operating Profit of BD2.13 million during the period, compared with BD2.37 million for the same period last year, reflecting a decrease of 10.13%, which demonstrates the stability of operational performance and the continued improvement in asset management efficiency.

Total Equity, after excluding minority interest, decreased by 2.18% to reach BD159.92 million as of 31 March 2026, compared with BD163.48 million reported in the financial year ended 31 December 2025. Total Assets increased by 0.45% in the first quarter of 2026 to reach BD178.58 million, compared with BD177.78 million in the financial year ended 31 December 2025.

Commenting on the financial results, Mr Essa Mohamed Najibi, Board Chairman of Seef Properties, said: “In light of the regional circumstances and rapid developments witnessed across the region during the past period, which impacted the pace of a number of sectors, particularly the entertainment and hospitality sectors, the results of the first quarter of 2026 reflect the Company’s ability to maintain balanced financial and operational performance. This was supported by its strategy focused on enhancing asset quality and maximising returns, while maintaining cost management efficiency, in a manner that supports the creation of sustainable long-term value for our shareholders.”

He continued: “The Company has navigated this phase through an approach that takes into account market requirements while maintaining performance efficiency and the continued implementation of approved plans. We have also continued to focus on controlling expenses, enhancing operational efficiency and improving the visitor experience across our various destinations, with the aim of strengthening the Company’s ability to respond to changes and preserve the foundations of its growth during the next phase.”

The Chairman added: “We extend our sincere gratitude and appreciation to His Majesty King Hamad bin Isa Al Khalifa, King of the Kingdom of Bahrain, and His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, for their continued support of Bahrain’s economic development. We also commend the efforts and sound directives of the Respected Government, particularly the initiatives and measures taken to support the private sector and enhance business continuity, which have contributed to strengthening a stable economic environment that is conducive to growth and supports the sustainable performance of national companies.”

For his part, Mr Ahmed Yusuf, Chief Executive Officer of Seef Properties, said: “The results of the first quarter of 2026 reflect the impact of regional developments on financial performance during the period, which was mainly evident in the entertainment and hospitality sectors, alongside a relative slowdown in consumer spending. This resulted in a decline in Net Profit compared with the same period last year.”

He explained: “Despite these variables, the Company continued to implement its operational and development plans in line with the approved path, recording Operating Profit of BD2.13 million. This reflects the stability of operational performance and the continued efficiency of asset management, as well as our ability to adapt to changes and maintain business continuity across our various sectors.”

The CEO added: “The first quarter of this year also witnessed continued progress in the implementation of our development projects, foremost among them the redevelopment of Seef Mall – Seef District, in addition to our ongoing efforts to enhance the visitor experience and increase the appeal of our destinations. In terms of regional expansion, we continue to move forward with our mixed-use project in Dammam in partnership with Majd Investment Company, where the project is witnessing tangible progress as it enters the design phase and local and international consultants have been appointed, in preparation for the commencement of construction works during the fourth quarter of 2026. We look to the next phase with confidence, supported by government backing, the operational foundations on which we are based, and our continued plans to enhance performance and regain momentum in the coming periods.”

Seef Properties, as one of the leading real estate development and integrated asset management companies in the Kingdom of Bahrain, continues to implement its strategy aimed at enhancing the efficiency of its assets and developing its commercial, entertainment and hospitality destinations. This supports sustainable growth and reinforces the Company’s position as a key contributor to economic, commercial and tourism activity in the Kingdom.

About Seef Properties:

Seef Properties B.S.C. was established in 1999 and is a public shareholding company listed on Bahrain Bourse since 2007. Headquartered in the Kingdom of Bahrain, the Company has become a leader in the retail, hospitality, entertainment and real estate development sectors across the Kingdom.

Seef Properties manages a large portfolio of assets, further strengthening its position as a distinguished brand. The Company’s vision is centred on its ongoing pursuit to be a leading real estate company in innovation and diversity, driven by the application of the highest standards and values to achieve excellence and satisfaction for shareholders, partners and customers alike.

The Company’s current activities focus on developing, owning and managing a diversified real estate investment portfolio serving the retail, entertainment and hospitality sectors.

For more information, please visit: www.seef.com.bh.