- Company News
Inviting the shareholders of Injazzat Real Estate Development Company K.P.S.C. to attend the Ordinary General Assembly meeting to be held on Monday, November 28, 2022 at 12:00 noon in the company’s meeting room in Ahmed Tower - located in the east - Al Khaleej Al Arabi Street, and that To discuss the items on the agenda.
The Board of Directors of the Company met on Tuesday, October 25, 2022, and the interim condensed consolidated financial information as of September 30, 2022 was approved unaudited. Injazzat Real Estate Development Company achieved profits in the third quarter of 2022 amounting to 1,614,054 Kuwaiti dinars, with earnings per share of 4.77, compared to profits of 370,051 Kuwaitis with earnings per share of 1.12 fils achieved by the company in the third quarter of the fiscal year 2021.
Updates on the Al-Jaddaf case: the court’s ruling as follows: 1- Rejecting the appeal submitted by Saif Belhasa Real Estate Company and obligating them to pay the remaining AED 90 million of the contract value and AED 728,676 or any operating expenses on the building. 2- Amending the required interest rate by making it 5% annually, calculated from the date of the judicial claim until payment. 3- Obligating the appellant to pay the appropriate expenses and a sum of one thousand Emirati dirhams in return for attorney’s fees, with the confiscation of the insurance amount.