SANAM Earns KWD 720 Thousand in 2023

The Board of Directors of Sanam Real Estate Company recommended the distribution of 5% bonus shares to the company's shareholders.

Following the meeting, Dr. Sulaiman Al-Abduljader, Vice Chairman and CEO, said: "Sanam achieved a profit of KD 720,155 for the fiscal year ended 31 December 2023, compared to a loss of KD 1,329,588 for the year 2022, and earnings per share amounted to 8.06 fils per share for the year 2023 compared to a loss of (15.62) fils per share for the year 2022."

Dr. Sulaiman Al-Abduljader added: "The reported earnings stand as a reflection of the restructuring carried out by the company and the activation of the transformation plan towards growth, diversification of sectors and the sustainable development of the company's returns. The company had announced last August the signing of a memorandum of understanding for a strategic partnership with Kuwait Real Estate Company and ERADAT International Real Estate Company, through a diversified real estate portfolio with attractive returns allowing for periodic distribution of profits to shareholders."

Dr. Sulaiman Al-Abduljader concluded: "2023 results are satisfactory, and we look forward to maximizing shareholders return in the next phase."