Manama: Infracorp, a leading specialised company in investing in the infrastructure and sustainability development sector, announced its financial results for the period ended 30th September 2024. The Company has reported an income of USD 268 million, compared to USD 124 million for the same period in 2023, an increase of 116%. In the nine-month period of 2024, the company reported a net profit of USD 37.2 million, representing a 25% increase from USD 30 million in the same period of 2023. Infracorp’s asset value increased substantially from USD 1.65 billion as of 31 December 2023 to USD 1.87 billion as of 30 September 2024, reflecting an asset growth of 13%.

Infracorp continues its efforts to solidify its reputation as a leading company in real estate development and investment in the social infrastructure sector. The company has achieved several significant milestones in its real estate portfolio projects. Among the most notable recent achievements is offering units in the ‘Marina Bay’ project for ownership, located on the waterfront of Reef Island in the capital, Manama. This project features a collection of luxury villas, duplex apartments and penthouses with stunning sea views. In addition, the company is actively progressing on its international portfolio, which includes development projects in Dubai, Morocco and India.

Moreover, Infracorp has intensified its efforts to develop the Harbour Walk project, which is the latest entertainment destination in the Kingdom of Bahrain. This project boasts over 10,000 square meters of commercial space extending along a promenade and waterfront that exceeding one kilometre. It has attracted several global brands for launching their operations, featuring restaurants and cafes from renowned names such as ROKA, Dawa by Chef Roaya Saleh, and cafes like 668, There, Makani, and Strathclyde University – Bahrain, along with other services catering to visitors of Bahrain Harbour, as part of the company’s strategy to expand its hospitality and retail project portfolio.

Meanwhile, the company recently announced a strategic partnership in the aviation and logistics sector by signing an agreement with Mena Aerospace. This partnership aims to develop dedicated aircraft facilities in the Kingdom of Bahrain, setting the stage for the creation of a regional platform aimed at providing advanced aircraft facilities in the GCC region. This step represents a significant strategic milestone in the company’s efforts to diversify its investment portfolio across various sectors, contribute to sustainable development, and enhance the Kingdom’s capabilities in the aviation sector. It also aligns with Bahrain’s ambitious Economic Vision 2030, along with growth in its industrial portfolio, which includes significant stakes in Falcon Cement Company (FCC) and Bahrain Aluminium Extrusion Company (BALEXCO).

Commenting on the financial results, Mr. Majed Al Khan, Board Member and CEO of Infracorp, stated: “We are delighted to report positive financial results for the period ending 30 September 2024. These results reflect the strong performance of our investment, real estate, and industrial portfolios, as well as our unwavering commitment to excellence in developing innovative infrastructure projects, and investing in and managing sustainable development assets. It represent the company’s efforts to seize various profitable opportunities and leverage them while striving to provide rewarding returns for our shareholders and partners. Our commitment to delivering innovative infrastructure solutions remains steadfast, as we continue to explore new opportunities and forge additional constructive partnerships for growth and expansion, while keeping sustainability and social responsibility at the forefront of our priorities.”

It is worth noting that Infracorp focuses its vision on sustainability as a core element to foster the economies and communities in which it operates. Through diverse investment opportunities and unique financial solutions, the company aims to create long-lasting high value for shareholders, partners and clients. Infracorp is committed to environmental, social, and corporate governance practices by addressing the needs of emerging economies and adopting a flexible investment strategy that enhances energy efficiency, localises innovation, creates job opportunities and improves living standards in urban communities.

For more information about Infracorp, visit www.infracorp.bh. Stay tuned to Infracorp’s latest news and updates by following @infracorp.bh on Instagram and Infracorp Bahrain on Linkedin.

About Infracorp:

Infracorp B.S.C., is a company specialised in investing in the infrastructure and sustainability development sector, with a capital of USD 1.2 billion. Infracorp manages a portfolio of nearly USD 3 billion in infrastructure assets, including a 250 million square feet land bank in the GCC, North Africa and South Asia, which is earmarked for sustainable economic and social infrastructure.

Infracorp’s sustainability strategy is designed to generate strong long-term returns for investors through proactive management of ESG risks, and by embracing opportunities for value creation in the sustainable investment ecosystem.

The Company focuses on investments in developing communities and investing in logistics and technologies that support sustainability and renewables, as well as social infrastructure assets across the education and healthcare sectors.

For more information about Infracorp, visit www.infracorp.bh