2008-02-03
US$ 15.1 Million is RealCAPITA’s Net Profit This Year
RealCAPITA, the real estate company based in Bahrain, announced the revenues for the year 2006 accomplishing US$24.8 million with a net profit of US$15.1 million, showing a 72% growth in net profit. The results were announced in the company´s Board meeting held last Wednesday (30th.Jan.2008) headed by Chairman H.E. Ahmed bin Ali Al- Dhaheri.
´The distinguished achievements realized by RealCAPITA to-date are indicators of its persistent ambition for success and excellence, 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´ Mr. Al Dhaheri stated.
He also said: ´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. 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.
Throughout this past year, RealCAPITA has endeavored to set the pillars on which it will embark on its new era of growth. 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 RealSUITS in Umm Alhassam and RealGardens in Al Jassrah. This unfaltering tempo has likewise been mirrored in the progress of our projects in Morocco and France.
´I would like to extend my heartfelt thanks to RealCAPITA executive´s team for their sincere and diligent efforts without which we would not have accumulated its track record of accomplishments and success and without which it would not be in the prominent position it is at today´ Al Dhaheri added.
´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´ he said.
´It is with great pride and pleasure that we present the outstanding results of our operations in the financial year ending 31st December 2007, owing this accomplishment in large part to the continued trust in the Board of Directors and the Management team without which such achievements would not have been attainable´ said Mr. Mohammed Al Tawash, Vice Chairman and President of RealCAPITA.
In its continued efforts to reinforce the services it provides to its valued clients, RealCAPITA has signed a strategic partnership agreement for the implementation of comprehensive enterprise-wide financial reporting and customer relationship management systems for the entirety of its operations.
RealCAPITA 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 ´The company attributes a significant and decisive role of this advancement to its strategic partnerships with a number of the most prominent financial institutions and real estate investment companies´ Mr. Al Tawsh said.
´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 ´LEED´ (Leadership in Energy and Environment Design) criteria for New Constructions´ added Mr. Al Tawash.
´Green building is the practice of increasing the efficiency with which buildings use resources- energy, water, and materials- while reducing building impacts on health and environment, through better sitting, design, construction, operation, maintenance, and removal´.
Mr. Al Tawash also pointed out the secret behind this success: ´The team has made tremendous efforts to take us where we are today, every member in the company worked very hard, constantly committed to create a strong foundation´. Finally Mr. Dhaheri stated: ´On behalf of my fellow Board Members at RealCAPITA, I would like to thank the Government of Bahrain headed by His Majesty King Hamad bin Isa Al-Khalifa, the Prime Minister Sh. Khalifa bin Salman Al-Khalifa and the Crown Prince Sh. Salman bin Hamad Al-Khalifa for their recognized support. I would like to thank our Management for their expertise and support and the Staff for their countless hours of dedication and their tireless efforts to provide the best possible service. We have tremendous confidence and excitement about our future, and I look forward to reporting another great year in 2007´.
´The distinguished achievements realized by RealCAPITA to-date are indicators of its persistent ambition for success and excellence, 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´ Mr. Al Dhaheri stated.
He also said: ´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. 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.
Throughout this past year, RealCAPITA has endeavored to set the pillars on which it will embark on its new era of growth. 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 RealSUITS in Umm Alhassam and RealGardens in Al Jassrah. This unfaltering tempo has likewise been mirrored in the progress of our projects in Morocco and France.
´I would like to extend my heartfelt thanks to RealCAPITA executive´s team for their sincere and diligent efforts without which we would not have accumulated its track record of accomplishments and success and without which it would not be in the prominent position it is at today´ Al Dhaheri added.
´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´ he said.
´It is with great pride and pleasure that we present the outstanding results of our operations in the financial year ending 31st December 2007, owing this accomplishment in large part to the continued trust in the Board of Directors and the Management team without which such achievements would not have been attainable´ said Mr. Mohammed Al Tawash, Vice Chairman and President of RealCAPITA.
In its continued efforts to reinforce the services it provides to its valued clients, RealCAPITA has signed a strategic partnership agreement for the implementation of comprehensive enterprise-wide financial reporting and customer relationship management systems for the entirety of its operations.
RealCAPITA 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 ´The company attributes a significant and decisive role of this advancement to its strategic partnerships with a number of the most prominent financial institutions and real estate investment companies´ Mr. Al Tawsh said.
´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 ´LEED´ (Leadership in Energy and Environment Design) criteria for New Constructions´ added Mr. Al Tawash.
´Green building is the practice of increasing the efficiency with which buildings use resources- energy, water, and materials- while reducing building impacts on health and environment, through better sitting, design, construction, operation, maintenance, and removal´.
Mr. Al Tawash also pointed out the secret behind this success: ´The team has made tremendous efforts to take us where we are today, every member in the company worked very hard, constantly committed to create a strong foundation´. Finally Mr. Dhaheri stated: ´On behalf of my fellow Board Members at RealCAPITA, I would like to thank the Government of Bahrain headed by His Majesty King Hamad bin Isa Al-Khalifa, the Prime Minister Sh. Khalifa bin Salman Al-Khalifa and the Crown Prince Sh. Salman bin Hamad Al-Khalifa for their recognized support. I would like to thank our Management for their expertise and support and the Staff for their countless hours of dedication and their tireless efforts to provide the best possible service. We have tremendous confidence and excitement about our future, and I look forward to reporting another great year in 2007´.