Al-Terkait: Arkan assets grew by 67% to KD 150m

Al-Terkait: Arkan assets grew by 67% to KD 150m

By Majd Othman

KUWAIT: Vice Chairman and CEO of Arkan Al-Kuwait Real Estate Company Abdulrahman Hamad Al-Terkait announced that the company’s board of directors succeeded in setting plans and strategies that contributed significantly to reach the planned goals to maintain the company’s stability and maximize assets to grow annual profits for shareholders and maintain the financial stability of the company in order to achieve the best possible financial results.

Al-Terkait made the statement during the ordinary general assembly meeting of Arkan held on Tuesday, which approved the distribution of 6 percent cash dividends, equal to 6 fils per share. He said total assets grew by 67 percent compared to the previous fiscal year – from KD 89.7 million to KD 149.6 million. Total managed properties exceeded KD 570 million in various sectors, while operating revenues amounted to KD 7.7 million, an increase of 57 percent compared to the previous fiscal year.

Al-Terkait mentioned rental revenues amounted to KD 6.3 million, a 23 percent increase compared to the previous fiscal year, which led the company to achieve a net profit of KD 2,216,998, with a profit of 8.83 fils per share. He added the company in 2022 continued to achieve positive results supported by