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: Al Ahli Bank of Kuwait – Egypt (ABK-Egypt) achieved outstanding financial results for the first ‎half of the year 2025 with net profit recording EGP 2.6 billion by the end of June 2025, ‎reflecting an increase of ‎‏35‏‎% compared to EGP 1.9 billion for the same period last year, after ‎excluding foreign exchange revaluation impact. Net interest income grew by 28% to reach EGP ‎‎3.8 billion compared to EGP 3 billion in the first half of 2024.‎

Meanwhile, total assets grew by 15% to reach EGP 163.4 billion compared to EGP 141.6 billion ‎at the end of 2024. Total customer deposits increased by 16%, reaching EGP 139.1 billion ‎compared to EGP 119.9 billion in December 2024, and total gross loans portfolio increased by ‎‎20% to reach EGP ‎‏8‏‎3.4 billion compared to EGP 69.3 billion at the end of 2024. Moreover, the ‎non-performing loans (NPL) ratio recorded 1.59% at the end of June 2025 compared to 1.74% at ‎the end of 2024.‎

Commenting on these results, Mr. Ali Marafi, Chairman of ABK-Egypt, said, “The Bank’s strong ‎performance, particularly the significant growth in total assets, demonstrates the strength of ‎our financial position and our solid operational model across key business lines. These results ‎underscore our ability to continue on our successful journey despite global and regional ‎economic turbulence.” He also expressed his gratitude for the efforts of the Executive ‎Management and their unwavering commitment to realizing the Bank’s ambitious growth ‎strategy, which emphasizes agility and innovation to ensure adapting to the evolving economic ‎landscape.‎

Marafi stated that during the first half of 2025, ABK-Egypt continued to expand its footprint ‎with the opening of a new branch in 6th of October City. This move aligns with the Bank’s ‎ambitious strategy for carefully planned geographic expansion and establishing a presence in ‎prime locations to grow its customer base. He emphasized the Bank’s unwavering commitment ‎to excellence and innovation as key drivers in strengthening its competitive position and ‎increasing its market share in Egypt.‎

Strategic Vision

Marafi added, “Our ambitious vision focuses on boosting our geographical presence across ‎Egyptian governorates as well as diversifying our range of products and services that meet the ‎rising needs of various customers to best attract new segments and expand our customer base.” ‎He further stated that this expansion‏ ‏agenda is a fundamental pillar for supporting national ‎directions and the Central Bank of Egypt’s (CBE) efforts in promoting financial inclusion, which ‎is considered a cornerstone in Egypt Vision 2030 and a catalyst for achieving sustainable ‎development goals and fostering a competitive and diversified economy.‎

Marafi stated that ABK-Egypt is continuing its digital transformation journey by introducing ‎advanced technologies within its branches and enhancing its banking solutions to serve ‎customers with the highest technical standards. These efforts, he noted, contribute significantly ‎to boosting customer satisfaction and strengthening their trust in the Bank.‎

He concluded by affirming that ABK-Egypt is fully committed to supporting and financing ‎development projects, as well as assisting national initiatives aimed at achieving sustainable ‎growth across various sectors. This commitment reflects the Bank’s role as a responsible ‎financial institution in the Egyptian market. Marafi also expressed his appreciation for the ‎strong support the Bank receives from CBE and all regulatory authorities in Egypt, which play a ‎key role in enhancing its performance and expanding its presence among diverse customer ‎segments.‎

Added Value

In the same context, Mr. Khaled El Salawy, CEO and Managing Director of ABK-Egypt stated: ‎‎“The Bank managed to achieve EGP 3.4 billion profit before tax, representing a growth rate of ‎‎32% compared to EGP 2.6 billion for the same period last year, after excluding foreign ‎exchange revaluation impact. This affirms the Bank’s efficiency in adapting to changing market ‎conditions, seizing business opportunities for growth as well as its ongoing commitment to ‎delivering added value to both customers and shareholders.”‎

Khaled El Salawy added, “Over a period of ten years marking our presence in the Egyptian ‎market, we have managed to build a strong track record of achievements in terms of revenues ‎and market position.” He primarily attributed this success to the collective efforts of the entire ‎team and the support of the Executive Management, who were keen on orchestrating efforts to ‎maximize performance efficiency and deliver innovative products and outstanding services to a ‎diverse customer base. ‎

He continued, “We will continue on our digital transformation path to enhance operational ‎efficiency and ultimately improve customer experience. This can be attained through ‎leveraging data and advanced technologies to personalize banking services, while upholding the ‎highest standards of transparency and security in all financial transactions.”‎

A New Chapter

El Salawy affirmed that ABK-Egypt is embarking on a new chapter in its journey in the Egyptian ‎market aimed at achieving more ambitious milestones for growth and development. The Bank ‎looks to the future with a clear strategy and strong vision, supported by a solid track record of ‎success. ABK-Egypt also confirms its innate understanding of the crucial impact of corporate ‎social responsibility in the development of local communities, through launching an array of ‎social initiatives across Egyptian governorates that promote economic empowerment for ‎various segments. The Bank also takes pride in supporting the development of key sectors as ‎part of its active role in driving Egypt’s economic and social progress.‎

El Salawy noted that in the first half of this year, the Bank continued forging strategic ‎partnerships to deliver exclusive offers to its customers. He highlighted the launch of several ‎promotional campaigns and special discounts designed to reward customers for using the ‎Bank’s diverse range of cards and solutions in completing their financial and banking ‎transactions.‎

He further emphasized the Bank’s strong commitment to supporting young entrepreneurs and ‎owners of small and medium-sized enterprises by providing the essential funding and resources ‎needed to bring their projects to life successfully. El Salawy also underscored the Bank’s ‎dedication to developing the skills of its employees across all departments, considered a ‎cornerstone of its success and growth plans, through comprehensive training programs. These ‎initiatives aim to enhance staff performance, increase productivity and innovation, improve the ‎quality of customer service, and attract more clients to the Bank’s continuously expanding ‎family.‎

New Awards

On another successful note, the Bank has recently received two prestigious awards from ‎International Business Magazine. ABK-Egypt was named ‘Best Corporate Banking Services Bank ‎‎– Egypt,’ in recognition of its outstanding efforts in delivering innovative and integrated ‎financial solutions to its corporate customers. In addition, El Salawy was honored as ‘Best CEO – ‎Egypt 2025,’ in recognition of his distinguished professional career and exceptional leadership ‎capabilities that were reflected through a solid track record. This recognition reinforces the ‎pivotal role he has played since assuming the position of CEO and Managing Director of ABK-‎Egypt.‎

These accolades join a growing list of awards the Bank has earned in recent years from leading ‎performance evaluation institutions, underscoring its excellence and distinction across a wide ‎range of assessments at the local, regional, and global levels.‎