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Shaikh Hisham Al Khalifa |
Abaad Real Estate Company, the real estate subsidiary of Bahrain Islamic Bank, has announced the financial results for the year ended December 31, 2007. In its first full year of operation, Abaad recorded total revenue of BD 2.1 million and a net income of BD 1 .5 million for the year ended December 31, 2007, representing a return on capital of 14.7%.
“There were significant accomplishments, even though 2007 was our first full year of operation. During the year, we attracted a pool of talents to our company who posses diverse and complementary range of skills in real estate investment activities. We have also set up our business operation and installed key infrastructure systems in order to ensure effective, efficient and smooth operations.” said Shaikh Hisham bin Abdul Rahman Al Khalifa, Abaad Chairman. “We have also executed several land acquisition deals in the Kingdom of Bahrain and United Arab Emirates" Shaikh Hisham added.
