Manama, Bahrain, 30th Aug 2024 - Infracorp, a leading specialized company in investing in the infrastructure and sustainability development sector, announced its financial results for the period ended 30th June 2024, reporting a total income of BD 195 million during the first half of the year with a 182% increase compared with the same period last year. Additionally, the company achieved a net profit of USD 26.5 million, with an increase of 28.4% in comparison with USD 20.6 million for the same period in 2023.
Infracorp has reached several key milestones in its real estate portfolio projects, including the announcement of the commencement of construction works on the Marina Bay project located on Reef Island in the capital, Manama, which features a collection of luxury villas, along with a selection of penthouses and duplexes that offer stunning waterfront views. This positive performance underscores Infracorp’s commitment to fostering growth across its diverse portfolio in the infrastructure and investment sectors, as evidenced by its current projects and strategic partnerships.
Bahrain Harbour has also witnessed several developments, with the University of Strathclyde announcing that it will be the site for its educational operations in the Kingdom of Bahrain, a move that is expected to boost visitor growth in the area. This development comes as several global brands launch their operations in the hotels, food and beverage, and retail sectors, contributing to the company’s vision of creating an integrated community and establishing a leading tourist and educational destination in the Kingdom.
Regionally, the company announced the completion of hospitality projects in both Marrakech and Tangier, Morocco. Additionally, construction works are continued in the residential units in Navi Mumbai, India.
The continuous expansion of Infracorp’s project portfolio demonstrates the company’s strategy of creating comprehensive communities that nurture social and environmental sustainability. Furthermore, the company remains focused on seamlessly integrating advanced green technologies into its developments, thereby minimising the carbon footprint and enhancing operational efficiency.
Commenting on the results, Mr. Majid Al Khan, Member of the Board of Directors and CEO of Infracorp, stated: “We are delighted to report positive returns during this period, along with significant growth in the company’s revenues, which will strengthen Infracorp’s position in the infrastructure and sustainability sector. Our recent projects embody our commitment to creating value through responsible investment in communities.”
Mr. Al Khan added: “As we move forward, we remain steadfast in our commitment to innovation and environmental stewardship, ensuring that our offerings not only meet but exceed expectations. We Inferior’s look forward to building on this momentum to drive profitability and deliver sustainable solutions that contribute to the growth of the infrastructure investment and real estate development sectors in the regions where we operate.”
Infracorp continues to prioritise sustainability and economic development in all its initiatives, showcasing a proven ability to adapt in evolving markets. By implementing best-in-class ESG practices, Infracorp aims to deliver long-term value for shareholders while positively impacting the communities it serves.
For more information about Infracorp, visit www.infracorp.bh. Stay tuned to Infracorp’s latest news and updates by following @infracorp.bh on Instagram and Infracorp Bahrain on LinkedIn.
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