الرئيس التنفيذي لشركة التجارية العقارية الكويتية لـ CNBC عربية: نمو الأرباح جاء نتيجة تنويع مصادر الدخل من الاستثمارات إضافة لخفض المصروفات

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Watch الرئيس التنفيذي لشركة التجارية العقارية الكويتية لـ CNBC عربية: نمو الأرباح جاء نتيجة تنويع مصادر الدخل من الاستثمارات إضافة لخفض المصروفات - CNBCArabia on Dailymotion

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00:00For the financial year 2021-2023,

00:06Alhamdulillah, the real estate business has achieved a profit of about 14.4 million,

00:13which is equivalent to an increase of about 16%.

00:17Of course, this is in line with the strategy set by the Board of Directors,

00:21which relies on diversifying income sources from real estate investments,

00:26foreign and local investments,

00:29in addition to reducing our expenses.

00:34Alhamdulillah, we were able to achieve these results

00:37thanks to the efforts of the company's employees and the executive board.

00:42You also mentioned that despite the challenges,

00:46one of the main ones is the increase in financing,

00:50the cost of financing and the interest rate.

00:53This is also a challenge that all companies face.

00:56For you, how do you face this challenge?

00:59What are your strategies for dealing with it?

01:02Especially since it was mentioned that the current mid-year special price will be reduced,

01:08but perhaps some things will be delayed.

01:11Indeed, there is an increase of about 69% in the cost of financing.

01:17In return, the company also increased its operating revenues,

01:23i.e. hotel revenues, real estate revenues, and investment revenues.

01:28This helped in reducing the cost of financing.

01:35Of course, the increase is about 5 million dinars,

01:38not a small amount for the real estate sector,

01:40but thanks to the Board of Directors,

01:42we were able to achieve the income that we want.

01:46Inshallah, in the coming years, things will be better.

01:50According to what we are hearing,

01:53Inshallah, in the second half of the year,

01:55we will consider reducing the cost of financing.

02:01What are your plans for expansion and for your projects?

02:05There was a lot of news about companies from several sides.

02:09Indeed, in 2023, we started our partnerships with some strategic investors.

02:15We are involved in geographical projects in the United States,

02:20Western European countries, and some Gulf countries,

02:26including Dubai and Saudi Arabia.

02:29Of course, these investments have had a good impact on the end of this year.

02:36One of the projects we have now in Dubai with one of the strategic partners

02:41is the Orla Dochester project in Jumeirah.

02:44We also have the Aria Vacation Club project in Jumeirah.

02:49In the United States, we have the Miami Residence project,

02:55which is also a successful project with one of the strategic partners.

03:00In addition, we now have, through a partner company,

03:04a real estate statement company in Saudi Arabia,

03:10in the area of expertise.

03:13We started selling some of the commercial and investment shares there.

03:18This, of course, strengthened our intentions,

03:21in addition to the growth in the percentage of employment in our company,

03:27which is the real estate portfolio,

03:29which led to an increase in profits,

03:32and it will also lead, God willing, in the coming years,

03:35we hope to reach a satisfactory and profitable percentage for the company.

03:41Of course, one of our policies is to have low-risk projects,

03:47that is, to have a balance in risk.

03:50We always have sustainable projects in terms of distribution,

03:53in terms of stability and willpower.

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