OTC  497 Al Hayat International Real Estate Company held its Ordinary and Extraordinary General Assembly meeting on Wednesday, July 16, at the company’s headquarters.

The meeting was attended by board members and Chairman Hisham Al-Obaid, who presented the company’s latest strategic developments during the fiscal year ending December 31, 2024.

He also highlighted key achievements in financial and operational performance, including enhanced revenue generation through efficient operations and strengthened market positioning both locally and regionally.

Al-Obaid emphasized the company’s ability to distribute 6% cash dividends, reflecting its solid financial standing and resilience in the face of ongoing economic challenges on both the local and regional levels.

Also, He reaffirmed the company’s commitment to continuing with carefully planned expansion strategies that adapt to market changes and align with future growth opportunities.

He noted that 2024 was marked by persistent economic challenges, including global economic slowdown, geopolitical instability, oil price fluctuations, the impact of implementing IFRS 16, and increased fees for industrial land allocations. Despite these factors, the company maintained positive performance by adopting a balanced strategy focused on both growth and sustainability.

Al-Obaid also highlighted the successful completion of the company's new project in the Al-Rai area, considered one of its key strategic developments. Most of the complex has already been leased to new tenants, and the project is expected to contribute to revenue growth once it becomes fully operational in the second half of the year.

In terms of subsidiary performance, he confirmed that Al Hayat Real Estate Services, Al Hayat Air Conditioning, and Store & Move Logistics Services all achieved growth rates. Additionally, a new company — Souboul Al Hayat Real Estate — was established to diversify income sources and strengthen financial sustainability.

The Extraordinary General Assembly also approved updates to the company's activities in line with the latest amendments from the Ministry of Commerce and Industry.

Financial Highlights:

- Net Profit: KD 828,902
- Shareholders’ Equity: KD 13,791,712
- Total Assets: KD 17,701,339