AlAqeel: Gulf Real Estate Projects Co carried out 75% of Durwaza tower
Head of board of directors of Gulf Real Estate Projects Co Hashem AlAqeel said that his company succeeded in renting 75% of Durwaza tower 51 which consists of 18 floors and located in Durwaza area.
He said in his speech toward the company’s general assembly yesterday that the company turned losses into profits in 2011, albeit slightly, in spite of the economic and political situation, which indicates the good performance of the company and its implementation of the strategic financial and operating, indicating that this is a push towards implementation of the strategy of the company that lie in the rebuilding of assets and arrangement of the financial position of the company.
‘’He also added that the net profits of the company for the financial year ended December 31, 2011 amounted to about 748 KDs, and that the administration of the company focused on the basic activity represented by real estate, exit from any other type of activities and work to activate and increase revenue by raising the performance level of its properties as Revenues in 2011, including 165% rate, or the equivalent of almost 142 thousand KD.’’
He pointed out that the company’s administration is trying to expand the scope of work in all areas of real estate to promote the company name in the local market and regional levels, and build ties of trust with customers which will have a positive impact on the results of the company in 2012 to satisfy of the aspirations of the shareholders.
He asserted that the company’s plan and approach for the coming years is expansion and influence in field of real estate at competitors’ companies’ level by suggesting new ideas that satisfy the customer and develop the company’s revenues and better investment opportunities.
The general assembly of the company has agreed on the whole agenda.