(Seef District, Kingdom of Bahrain): Seef Properties B.S.C. (Bahrain Stock Exchange ticker symbol: 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 March 31, 2026.

The company recorded net profits and comprehensive income attributable to shareholders of the parent company of BD 0.97 million during the first quarter of 2026, compared to BD 1.22 million for the same period last year, a decrease of 20.98%. This decline is primarily attributed to the repercussions of regional developments during the past period, which impacted the performance of the entertainment and hospitality sectors, in addition to a relative slowdown in consumer spending. Despite this, the company continued to implement its strategic projects and operational plans with an approach focused on enhancing efficiency and diversifying revenue streams, thus supporting sustainable growth in the coming periods.

Basic and diluted earnings per share attributable to shareholders of the parent company during the first quarter of 2026 amounted to 2.14 Bahraini fils, compared to 2.69 Bahraini fils for the same period of 2025. The company also recorded operating profits of 2.13 million Bahraini dinars during the period, compared to 2.37 million Bahraini dinars for the same period last year, a decrease of 10.13%, reflecting the stability of operational performance and the continued improvement in asset management efficiency.

Total shareholders’ equity (excluding minority interests) decreased by 2.18% to BD 159.92 million as of March 31, 2026, compared to BD 163.48 million in the financial year ended December 31, 2025, while total assets in the first quarter of 2026 increased by 0.45% to BD 178.58 million, compared to BD 177.78 million in the financial year ended December 31, 2025.

Commenting on the financial results, Mr. Essa Mohammed Najibi, Chairman of Seef Properties , stated: “In light of the regional circumstances and the rapid developments witnessed in the region during the past period, which were reflected in the pace of a number of sectors, especially the entertainment and hospitality sectors, the results of the first quarter of 2026 reflect the company’s ability to maintain a balanced financial and operational performance, based on its strategy of enhancing asset quality and maximizing returns, while maintaining efficient cost management, in a way that supports achieving sustainable value for our shareholders in the long term.”

He continued, saying: “The company has dealt with this phase in an approach that takes into account market requirements while maintaining performance efficiency and the continuity of implementation of approved plans. We have also continued to focus on controlling expenses, raising operational efficiency and improving the visitor experience in our various destinations, with the aim of enhancing the company’s ability to cope with changes and maintain the foundations of its growth during the next phase.”

The Chairman of the Board added: “We extend our sincere thanks and gratitude to His Majesty King Hamad bin Isa Al Khalifa, the King of the country, may God protect him, and His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, may God protect him, for their continued support of the economic development process. We also appreciate the efforts of the esteemed government and its sound directives, especially the initiatives and measures that have been taken to support the private sector and enhance business continuity, which have contributed to establishing a stable and growth-friendly economic environment, thus supporting the sustainability of the performance of national companies.”

For his part, Mr. Ahmed Yusuf, CEO 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 mainly affected the entertainment and hospitality sectors, in addition to a relative decline in the pace of consumer spending, which led to a decrease in net profit compared to the same period last year.”

He explained, “Despite these changes, the company continued to implement its operational and development plans according to the approved path, recording operating profits of 2.13 million Bahraini dinars, which reflects the stability of operational performance and the continued efficiency of asset management, in addition to our ability to adapt to changes and maintain business continuity across our various sectors.”

He added: “The first quarter of this year also witnessed continued progress in the implementation of our development projects, most notably the Seef Mall – Seef District development project, in addition to continuing our efforts to enhance the visitor experience and increase the appeal of our destinations. On the regional expansion front, we are moving forward with our mixed-use project in Dammam in partnership with Majd Investment Company, where the project is witnessing tangible progress with the entry into the design phase and the appointment of local and international consultants, in preparation for the start of construction work during the last quarter of 2026. We look to the next stage with confidence, given the government support and the operational foundations on which we are based, and our ongoing plans to enhance performance and regain momentum in the coming periods.”

Seef Properties, 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, in order to support sustainable growth and consolidate its position as a major contributor to supporting the economic, commercial and tourism movement in the Kingdom.

Note: Full financial data and press release are available on the Bahrain Bourse website: www.bahrainbourse.com.

About Seef Properties:

Established in 1999, Seef Properties B.S.C. is a public shareholding company listed on the Bahrain Bourse since 2007. Headquartered in the Kingdom of Bahrain, Seef Properties has become a leader in the Kingdom's retail, hospitality, entertainment, and real estate development sectors. The company manages a substantial portfolio of assets, solidifying its position as a distinguished brand. Seef Properties' vision is centered on its continuous pursuit of excellence and diversification as a leading real estate company, driven by the application of the highest standards and values to achieve excellence and ensure the satisfaction of its 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

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