Manama: Seef Properties, reported a net profit and comprehensive income attributable to shareholders of the parent company worth BD 0.9 million during Q2 2026, compared to BD 1.5 million in Q2 2025, representing a decrease of 36.9%. This decrease primarily owes to regional developments in the past period, which impacted on the performance of the leisure and hospitality sectors, in addition to a relative decline in consumer spending.
Seef Properties has announced its financial results for the second quarter and the six-month period ending on 30 June 2026 with basic and diluted earnings per share attributable to shareholders of the parent company for Q2 2026 amounted to 2.1 Bahraini fils, compared to 3.2 Bahraini fils for the same period last year, representing a decrease of 35.0%. The company also recorded operating profits of BD 2.3 million during Q2 2026, compared to BD 2.9 million in Q2 2025, a decrease of 20.1%.
For the six-month period ending on 30 June 2026, the company recorded net profits and comprehensive income attributable to shareholders of the parent company worth BD 1.9 million, compared to BD 2.7 million for the same period in 2025, a decrease of 29.7%. Basic and diluted earnings per share attributable to shareholders of the parent company for the six-month period amounted to 4.2 Bahraini fils, compared to 5.9 Bahraini fils for the same period last year, representing a decrease of 28.5%.
Operating profit for the six-month period ending on 30 June 2026 reached BD 5 million, compared to BD 5.9 million for the same period in 2025, a decrease of 14.0%. Revenue amounted to BD 6.6 million, compared to BD 7.5 million for the same period last year, a decrease of 12.9%.
Total shareholders’ equity, excluding minority interests, was BD 160.9 million as of 30 June 2026, compared to BD 163.5 million for the year ended on 31 December 2025, a decrease of 1.6%. Total assets reached BD 174.5 million as of 30 June 2026, compared to BD 177.8 million for the year ended on 31 December 2025, representing a decrease of 1.8%.
“The Q2 2026 results were achieved within a changing operating environment that presented significant challenges to the company’s key sectors, particularly retail, hospitality, and entertainment. This was due to regional developments that impacted the activity and spending levels. Despite these challenges, Seef Properties continues to approach this period with a long-term strategic perspective focused on developing assets, enhancing operational efficiency, and diversifying revenue streams. This approach will enable the company to move forward, overcome challenges, and maintain its momentum in the future,” Essa Mohamed Najibi, Chairman of Seef Properties, said.
“The comprehensive redevelopment underway at Seef Mall – Seef District represents a pivotal step in the company’s future vision to enhance the competitiveness of its key destinations and present them in a more modern, integrated manner. The appointment of Mohammed Jalal Contracting to carry out the main construction works for this project reflects the advanced stage of the development plans, supporting the company’s efforts to create a more vibrant, diverse environment for visitors while solidifying the mall’s position as one of the leading integrated shopping, entertainment, and lifestyle destinations in the Kingdom of Bahrain. Beyond a phased development project, the redevelopment represents a strategic investment in the future of a vital asset and its ability to continue its role as a premier shopping, entertainment, and lifestyle destination in the Kingdom of Bahrain.”
“Seef Properties continues to execute its plans with a balanced approach, focusing on expanding future opportunities both within and outside the Kingdom of Bahrain while enhancing integration between the retail, entertainment, and hospitality sectors. We also reaffirm our commitment to invest in projects that enhance the visitor and tenant experience, support long-term value for our shareholders, and contribute to the economic, commercial, and tourism growth in the Kingdom,” Najibi added.
Ahmed Yusuf, CEO of Seef Properties, said that despite the impact of current market conditions and regional developments on our financial results, the company continued to implement its operational and development plans according to the approved plan. “Al Liwan was one of the most prominent positive performance indicators within our portfolio during this period, supported by high occupancy rates, its growing contribution to revenue diversification, and its attraction of more concepts and brands that enhance the visitor experience and support the destination’s appeal.”
“The phased redevelopment of Seef Mall – Seef District is ongoing. The current phase includes major construction and development works adding new spaces for restaurants and cafes, improving facilities, and developing outdoor spaces and walkways to provide visitors with a more vibrant, modern experience. We are committed to maintaining operational continuity and the smooth delivery of services to visitors and tenants throughout the project’s phases, ensuring a balance between development work and daily operational requirements.”
“The company is also moving forward with a number of initiatives that support the efficiency of its operations and the sustainability of its performance, most notably its mixed-use project in Dammam, in partnership with Majd Investment Company. During this phase, we continue to focus on managing business with discipline and flexibility, enhancing the company’s ability to protect the value of its assets and the quality of its services. We constantly evaluate opportunities for improvement across various business sectors, ensuring the effective navigation of current changes to capitalise on growth opportunities when market conditions improve and activity returns to normal.
“We recognise that 2026 presents challenges related to high competition and market conditions, particularly in the retail, hospitality, and entertainment sectors. However, the company’s projects are progressing according to their approved plans. We assure our shareholders, visitors, and tenants that Seef Properties will continue to support its partners and enhance the customer experience, focusing on initiatives that lay a stronger foundation for long-term growth while reinforcing the company’s position as a leading developer and operator of integrated destinations in the Kingdom of Bahrain and the region.”
