2008-01-29
RealLANDS Distributes 20% Dividends to its Shareholders
RealLANDS, an investment real estate firm established by RealCAPITA, has announced the profit of US$ 5.2 million with one year of its operational period. These profits were announced in the company´s Board meeting held last week headed by Chairman Mr. Mohammed Al Tawash.
The board also declared a distribution of dividends to its shareholders equivalent to 20% of the paid-up capital.
´We proudly stand today to announce this achievement, after one whole year of a continuous efforts made by the executives and team members´ said Mr. Al Tawash.
"The company is one of RealCAPITA´s many projects in Bahrain, established in June 2006 with a paid-up capital of US$25 million, with strategic partnerships through the Gulf region. RealLANDS engaged in acquiring plots of lands across the Kingdom of Bahrain and the MENA region" stated Mr. Qais Al Maskati, Board Member and Head of Investment Committee at RealLANDS.
Al Tawash also added that the company has acquired a number of lands with a total of US$ 37.4 million of which has disposed off by US$ 9.1 million ´The company has managed to achieve the appreciation in the value of the lands acquired that exceeded our initial expectations´ he said.
In previous statements RealLANDS announced the growth in its real estate investment operations, as a result of the success in RealSUITES, part of RealLANDS projects, the lands nearby the development and owned by RealLANDS (located in Um AlHassam) have been sold with 60% increase within 6 months only.
RealCAPITA is a real estate investment firm, established in Kingdom of Bahrain with a paid up capital of US$56.16 million and it is considered to be as one of the leading companies in Bahrain and Middle East.
The board also declared a distribution of dividends to its shareholders equivalent to 20% of the paid-up capital.
´We proudly stand today to announce this achievement, after one whole year of a continuous efforts made by the executives and team members´ said Mr. Al Tawash.
"The company is one of RealCAPITA´s many projects in Bahrain, established in June 2006 with a paid-up capital of US$25 million, with strategic partnerships through the Gulf region. RealLANDS engaged in acquiring plots of lands across the Kingdom of Bahrain and the MENA region" stated Mr. Qais Al Maskati, Board Member and Head of Investment Committee at RealLANDS.
Al Tawash also added that the company has acquired a number of lands with a total of US$ 37.4 million of which has disposed off by US$ 9.1 million ´The company has managed to achieve the appreciation in the value of the lands acquired that exceeded our initial expectations´ he said.
In previous statements RealLANDS announced the growth in its real estate investment operations, as a result of the success in RealSUITES, part of RealLANDS projects, the lands nearby the development and owned by RealLANDS (located in Um AlHassam) have been sold with 60% increase within 6 months only.
RealCAPITA is a real estate investment firm, established in Kingdom of Bahrain with a paid up capital of US$56.16 million and it is considered to be as one of the leading companies in Bahrain and Middle East.