Kuwait City, [Date] - The National Real Estate Company (NREC) reported on Thursday a net profit of 9.3 million Kuwaiti dinars (approximately 30.6million)forthefiscalyearendingDecember31,2024,withearningspershareof4.91fils.Thisrepresentsasignificantrecoveryfromthe35.2milliondinarloss(about116 million) recorded in 2023.

Executive Commentary:
Vice Chairman and CEO Faisal Al-Essa stated in a press release: "Our 2024 results demonstrate sustained growth driven by strong operational strategies and agile risk management. The company has maintained steady progress, reinforcing our commitment to creating long-term shareholder value."

Key Announcements:

1. Dividend Recommendation:

   • 5% bonus share distribution (subject to shareholder approval)

2. Strategic Investments:

   • 22% stake in Agility Public Warehousing Company

   • Investments in Abu Dhabi-listed Agility Global, which manages:

     • Menzies Aviation

     • Tristar

     • Agility Logistics Parks

3. Project Highlights:

   • Reem Mall (Abu Dhabi):

     • Officially opened May 2024

     • Currently 197 operational retail units

     • Demonstrates strong commercial appeal

   • Aqaba South Investment Complex (Jordan):

     • 100% occupancy rate through 2024

     • Rental income: KD 983,000 (~$3.2 million), 1% YoY increase

Corporate Background:
Established in 1973 and listed on the Kuwait Stock Exchange, NREC specializes in real estate investment, development, and management across MENA, with focus areas including:

• Retail complexes

• Commercial properties

• Residential developments