KUWAIT CITY, Aug 16: National Real Estate Company (NREC) reported its financial and ‎operational results for the period ended June 30, 2025, recording a net loss of KD 65.3 million and a ‎loss per share (LPS) of 34.01 fils for the first half of 2025, compared to a net profit of KD 1.6 million ‎and earnings per share (EPS) of 0.91 fils for the same period in 2024.‎

The Company posted year-to-date operating revenue of KD 1.6 million and total assets of KD 539 ‎million as of June 30, 2025.‎

In Q2 2025, NREC reported a net loss of KD 66.5 million, a loss per share of 34.63 fils, and operating ‎revenue of KD 0.8 million. ‎

Commenting on the Company’s results, NREC Vice Chairman and Chief Executive Officer, Faisal Jamil ‎Sultan Al-Essa, said: “On 18 June 2025, Agility KSCP announced an in-kind distribution of Agility ‎Global PLC shares to its shareholders. This move triggered a revaluation of Agility Global in ‎accordance with IFRS, resulting in a one-time, non-cash loss in Q2 2025.”‎

‎“As the largest shareholder in Agility KSCP, NREC recognized its proportionate share of this impact ‎during the period. It is important to emphasize that this one-off, non-cash accounting adjustment ‎does not reflect the underlying economic value of Agility Global, which continues to deliver strong ‎performance, nor does it affect the solid fundamentals of NREC’s business.”‎

‎“We remain firmly committed to enhancing the performance of our core assets while actively pursuing ‎growth opportunities in our key markets. With a clear strategy and a resilient portfolio, we are well-‎positioned to create sustainable, long-term value for our shareholders and to capture the growth ‎potential ahead.”‎

Key Projects Update

Reem Mall – Abu Dhabi: 219 Active Units and Bright Prospects

Sultan stated: “Since opening in May 2024, Reem Mall has quickly become a premier retail and ‎lifestyle destination in Abu Dhabi. With 219 units actively trading, the mall demonstrates strong early ‎engagement and a growing retail presence. A vibrant environment is taking shape, featuring a mix of ‎leading international brands and exciting new entrants. This momentum highlights the mall’s appeal ‎and adaptability to an evolving market.”‎

He added: “Abu Dhabi continues to see steady growth in family-oriented tourism, driven by world-‎class attractions, expanding leisure infrastructure, and a year-round events calendar. Reem Mall is ‎well-positioned to capitalize on this trend, offering a diverse range of entertainment, dining, and retail ‎experiences, including unique attractions like Snow Abu Dhabi, catering to residents and the growing ‎number of family visitors from across the region and beyond.”‎

NREC is a co-investor in the $1.3 billion Reem Mall on Reem Island. Featuring digital innovations such ‎as a mobile app for hands-free shopping, in-mall navigation, and smart parking, the mall leads in ‎integrating online and in-person experiences. It houses the world’s first Bloomingdale’s Beauty, ‎exclusive private viewing rooms at VOX Cinemas, and top brands including Carrefour, Nike, Eataly, ‎Zara, Sephora and Marina Home.‎

Grand Heights – Egypt: A Modern, Integrated Community near Cairo

Sultan said: “The Grand Heights project, developed by KUWADICO, continues to make steady ‎progress in its development. This fully integrated, gated community is designed to provide residents ‎with a modern, secure, and sustainable living environment. It combines residential, commercial, and ‎recreational spaces, offering a balanced lifestyle in a prime location near Cairo.”‎

He added: “The development spans 3.8 million square meters and is being executed in phases to ‎meet the growing demand for premium housing options in the area.”‎

South Aqaba Investment Park – Jordan

NREC’s logistics and industrial park in South Aqaba continued to deliver steady performance in H1 ‎‎2025, maintaining full occupancy and generating stable rental income. ‎

Sultan noted: “Despite regional uncertainties, the park has maintained strong performance, ‎demonstrating both resilience and operational strength.”‎

Enhancing the Portfolio for Sustainable, Long-Term Growth ‎

Sultan stated, “Our priority remains optimizing the portfolio in line with NREC’s strategic vision. We ‎are focused on maximizing the performance of core assets, exiting non-strategic holdings, and ‎pursuing new local and regional investments that drive sustainable growth and deliver lasting value to ‎shareholders.”‎

Advancing Sustainability for a Stronger Tomorrow

Sultan stated, “Sustainability is central to NREC’s growth strategy. We are dedicated to integrating ‎responsible practices across all operations, from reducing environmental impact to fostering social ‎inclusion and maintaining robust governance. Through our ESG initiatives, we strive to create lasting, ‎positive impact in the communities we serve while delivering resilient, long-term value for ‎stakeholders.”‎

Established in 1973 and listed in Boursa Kuwait, National Real Estate Company (NREC) is a real estate ‎investment, development, and property manager based in the Middle East and North Africa. The ‎Company’s portfolio comprises a mix of retail, commercial, and residential properties in the region.

KUWAIT CITY, Aug 16: Kuwait Finance House (KFH) has concluded its second enhanced edition of KFH Academy, which offered a comprehensive training experience combined with theoretical knowledge and practical application.

The program provided a professional learning model within a leading banking environment for preparing Kuwaiti youth across diverse areas including Public Relations (PR) and Media, Digital Transformation and Innovation, in addition to Engineering Projects.

A special honoring ceremony for the trainees was held, attended by Acting Group Chief Executive Officer, Deputy Group CEO Transformation, Technology and Operations, Haytham Alterkait, alongside several officials from the Bank.

This edition builds on the success of the inaugural PR Academy, launched by KFH last year, expanding the scope of training and introducing new areas of learning. The program aims to meet the aspirations of a wider segment of university students and recent graduates from various disciplines. It also reflects KFH’s commitment to empowering Kuwaiti youth competencies.

In his address, Acting Group Chief Human Resources and Transformation Officer, Ahmad Al hammad, said: “At KFH, we are proud to reiterate our unwavering commitment to empowering young national talents by offering the best specialized training programs. These initiatives pave new paths for students and recent graduates to develop their skills and prepare for the job market with confidence and knowledge.”

He added that KFH Academy, in its upgraded edition, is a continuation of the first PR Academy. This year’s edition included an expanded training scope with new key areas such as PR and Media, Digital Transformation and Innovation, and Engineering projects, all designed to meet the ambitions of a broader group of students from diverse academic backgrounds.

Alhammad highlighted that the program was designed in accordance with the highest global training standards, combining rich theoretical learning with real-world, practical experience in a professional banking environment. The program also featured field visits and intensive workshops in collaboration with KFH partners from both the public and private sectors.

“At KFH, we believe that investing in people is the smartest investment. Building a capable, attentive, and innovative generation is the foundation for sustaining our success as a leading financial institution,” he remarked.

Meanwhile, Head of Public Relations and Media at KFH, Yousef Abdullah Al-Ruwaieh, said that the upgraded edition of KFH Academy delivered an actual training model for empowering Kuwaiti youth to excel in a professional banking environment through diverse fields.

“This program’s is an extension of the previous successful PR Academy, but with wider scope, reflecting KFH’s commitment to continuous development and offering programs that meet the evolving needs of the employment market,” he commented, “It also reaffirms the Bank’s leadership in supporting national talent and youth, while providing a comprehensive training program that combines theoretical learning with practical application at Kuwait’s largest bank and the world’s second-largest Islamic bank.”

Al-Ruwaieh stressed KFH’s commitment to organizing relevant impactful programs. This commitment aligns with the Bank’s social responsibility and leadership in supporting the youth and investing in honing their skills to prepare them as future leaders.

KUWAIT CITY, Aug 16: Agility Public Warehousing Company KSCP (“Agility KSCP”), ‎a supply chain services, infrastructure and innovation company, today reported Q2 2025 ‎results following a repositioning of the company’s strategy. ‎

Q2 Recap of New Strategic Direction

On 17 June 2025, Agility KSCP’s Board of Directors approved a new strategic direction ‎aligned with Kuwait Vision 2035, aiming to accelerate national infrastructure development and ‎reaffirm the company’s original mission set in 1979 to develop critical warehousing and ‎logistics in Kuwait.‎

To execute on this strategic direction, Agility KSCP announced that it will position its capital, ‎operations, and leadership to support Kuwait’s economic priorities, with planned investments ‎exceeding KD 100 million through 2030 in high-priority sectors. The company announced that ‎it was taking several structural steps as part of this strategy, including national alignment, ‎fostering Kuwaiti talent, and rebranding.‎

The Board of Directors of Agility KSCP, based on the authorization given at the Company’s ‎Ordinary general meeting held on 22 May 2025, also approved the distribution of in-kind ‎dividends representing 20.09% of the shares held by Agility KSCP in ADX-listed Agility Global ‎Plc. ‎

This strategic step aimed to offer shareholders a direct stake in a high-growth business while ‎enhancing Agility Global’s free float, improving share liquidity, and boosting price discovery. ‎This move is expected to raise Agility Global’s market visibility and support potential inclusion ‎in major equity indices, underscoring the Board’s commitment to long-term value creation ‎and alignment with shareholders. ‎

Results from Continuing Operations

Following the announcement of this in-kind dividend distribution, Q2 2025 is the first quarter ‎that Agility KSCP is reporting its results from continuing operations, and accounting for the ‎one-off, non-cash impact of the remeasurement of Agility Global in Agility KSCP.‎

Q2 2025 net income from continuing operations stands at KD 8.7 million, up 196% from ‎the same period last year, equivalent to 3.48 fils per share. Revenue stands at KD 36.1 ‎million, and EBITDA was KD 16.2 million, up 36% year-over-year.‎

For the six months ending June 30, 2025, net income from continuing operations stands at ‎KD 18 million, equivalent to 7.22 fils per share, a 45.3% increase from same period last year. ‎Revenue stands at KD 73.9 million, and EBITDA was KD 32.2 million up 5.3% year-over-‎year.‎

One off, Non-Cash Loss from Discontinued Operations

In accordance with accounting standard IFRS 5, in Q2, Agility Global PLC was classified as ‎‎“held for distribution to shareholders”.‎

As a result, the company recognized a non-cash loss of KD 292 million attributable to ‎shareholders. This loss reflects the initial measurement of Agility Global, representing the ‎difference between its book value and its market value as of 30 June 2025. ‎

Including this one-off loss from discontinued operations, the reported consolidated net result ‎for Q2 2025 was a loss of KD 282 million, equivalent to negative 113 fils per share.‎

This loss is an accounting adjustment as a result of the distribution of in-kind dividends as ‎mentioned above and does not reflect the economic value of Agility Global, which continues ‎to perform strongly.‎

Tarek Sultan, Vice Chairman of Agility KSCP said:‎

‎“Operating performance in the second quarter remained stable, and net income from ‎continuing operations improved year-over-year. While the reported consolidated loss reflects ‎a one-time, non-cash accounting adjustment under IFRS-5, it does not impact the ‎fundamentals of the business. Our focus remains on positioning Agility KSCP for sustainable ‎growth, with a particular emphasis on Kuwait-centric opportunities.”‎

Continuing Operations: Business Update

In Kuwait, the company’s portfolio businesses remain committed to executing their growth ‎strategies while actively pursuing opportunities to enhance value and returns for ‎shareholders. ‎

GCS continues to prioritize both expansion and operational efficiency, positioning itself to ‎capture new market opportunities. Meanwhile, MRC achieved a significant milestone by ‎winning the bid to develop and operate a state-of-the-art Metal Reclamation Facility (MRF) ‎that will process spent catalysts from KNPC and KIPIC refineries, contributing to Kuwait’s ‎sustainability and industrial recycling goals.‎

Agility’s Kuwait Logistics Parks business is also making steady progress on the development ‎of S2, or South Village—an integrated commercial, logistics, and crafts/services hub ‎designed to serve Sabah Al-Ahmad City, Kuwait’s next-generation urban development. This ‎project underscores Agility KSCP’s role as a key enabler of modern infrastructure in support ‎of national growth.‎

Investments: Agility Global Business Update

As of end June 30, 2025, Agility KSCP still owned 51% shares in Agility Global, however post ‎the distribution which happened in July, Agility KSCP will own 25% of Agility Global and will ‎be deconsolidated and accounted for as an associate in Agility KSCP Books starting in the ‎third quarter of 2025. However, for the second quarter, Agility Global was reported as per ‎IFRS 5 as mentioned above.‎

In Q2 2025, Agility Global reported healthy profitability growth with stable margins, driven ‎mainly by Menzies and Agility Logistics Parks. Tristar delivered steady top-line growth and ‎operational ramp-up; but certain challenges in its maritime segment limited its EBIT ‎expansion. ‎

Agility Global reported Q2 2025 earnings of $24 million, EBIT grew 5% to $97 million, ‎EBITDA increased 8% to $181 million, and revenue rose 8% to $1.2 billion. Agility Global’s ‎balance sheet remains strong with total assets at $12.7 billion and shareholder equity at $5.8 ‎billion ‎