It increased 20% supported by strong returns for development and management.
Infrakorp announced its financial results for the fiscal year ending December 31, 2024, as the company achieved a net profit of $ 54.5 million compared to 45.5 million dollars last year, an increase of 20% supported by strong returns achieved by the company in the field of development, management and investment in various sectors, where The year witnessed successful outputs of important projects.
The company specialized in investing and managing infrastructure assets and sustainable development recorded a total revenue of $ 358 million, compared to $ 189 million per year 2023, an increase of 89%.
The assets managed by the company increased by 12%, reaching $ 1.85 billion in the year 2024, compared to 1.65 billion US dollars in 2023.
The company witnessed a strong performance from all sectors, as the development portfolio achieved revenues of $ 327 million in the year ending December 31, 2024, comparing $ 163 million in the same period in the year 2023, an increase of 100%, and the investment portfolio achieved revenues of $ 18 million a year 2024, an increase of 64% compared to $ 11 million that the company recorded in the year 2023.
“These financial results reflect the characteristic of the Infrakorp business model in the ability to innovate and adapt to the challenges,” said the Chairman of the Board, Hisham Al -Rayes, stressing the commitment to continue to enhance our investment strategies and provide value to our shareholders, which contributes to strengthening our location in the market.
“We will continue to focus on innovation and develop new solutions to enhance our competitiveness. We also seek to explore new markets and open various investment fields that contribute to achieving sustainable growth. Our commitment to sustainability and social responsibility is an integral part of our strategy, as we aim to achieve a positive impact in the societies that We work in it.
For his part, Member of the Board of Directors, CEO Majid Al Khan, stressed that the company continues to achieve strong and stable results, which reflects the strength of our strategy and the diversity of our investment portfolio, which contributed to the increase in the company’s net profits by 20%.
“We look forward to continuing growth and expansion in new areas, while maintaining a constant focus on innovation and outstanding performance,” he said.
He added that these results reflect the excellence of our investment portfolios, especially in the infrastructure and retail sectors, which remain the two main engines for the growth of our business, in addition to the successful strategic exits that embody the rich experience and exceptional capabilities of our work team.
Al -Khan stressed that the company was keen to adhere to apply for the completion of its projects, announcing the launch of the third stage of California Felg in Dubai, and completing 20% of the construction work in the Marina Bay project launched by the company in the middle of the year 2024, in addition to completing the first phase of our multi -use projects In Morocco.
“The multi -use infrastructure projects that the company launched continued their momentum to attract more retail stores thanks to the stimulating investment environments and advanced facilities that meet the needs of the market.”
“We are proud to be part of the positive transformations in the region, and we are working to implement initiatives that contribute to improving the quality of life and promoting sustainable development, stressing our commitment to continuing this momentum of success in the coming years, where we are working to develop new projects and improve the services provided to our customers. Our partnership with the local community and investors remain the cornerstone of our strategy for growth and expansion. “
Among the most prominent achievements of business units during the year 2024, the infrastructure breaker, the launch of the third phase of the California Filge residential project in Dubai, during which 370 housing units will be developed. Thin specifications, as well as a spa, a conference center, and a gym.
The first phase of the company’s multi -use project was completed in Tangier, which includes a modern hotel that contains 99 units in addition to a spa, and many facilities, for the completion of 20% of the construction works in the Marina Bay project on the island In a distinguished area near the most prominent entertainment destinations in Bahrain.
In the retail sector, in 2024, the May Café Group was signed to open the largest branches of the chain of restaurants and high -end cafes in Bahrain Harbour on an area of approximately 1000 square meters.
It was also signed, with the Al -Khaleejiya Administration Group for the opening of branches of the Series of Kaf and Kevino Devino cafes in Bahrain Harbour, in addition to signing with Joel Roboshon to open branches of the world -famous restaurant in the company’s projects in Bahrain and Morocco at the end of this year.
It was signed with the Ricas Group in the field of hospitality and restaurant management in the United Arab Emirates to open the Twiggy by La Cantine Restaurant, in addition to signing with the exhibition “Gallery B · R” to open its first branch outside Europe in Bahrain Harbor.
Among the strategic partnerships of the company, Mina Aviation Contract to establish a company specialized in establishing aircraft sheds, and signing an agreement with Knights Court as sales partner in the third stage of the California Velig project.
In the field of sustainability, the first sustainability report that covers all the company’s private infrastructure and sustainable initiatives has been formulated.
