Eva Hotels Reports Profits of 2.54 Million Kuwaiti Dinars

Eva Hotels & Resorts reported profits of 2.54 million Kuwaiti dinars during the first half of 2026, with earnings per share of 6.99 fils. The decline in profits compared to the same period in 2025 was attributed to the repercussions of geopolitical developments in the region, which impacted the hospitality sector’s performance due to the suspension and cancellation of several flights to certain destinations, thereby affecting hotel occupancy rates and tourism activity overall.

Despite these exceptional circumstances, the company continued to strengthen its financial position, with total assets increasing by 5.73% and equity attributable to the parent company’s shareholders growing by 17.94% compared to the first half of 2025.

Commenting on the results for the first half of 2026, Khaled Saeed Asbeih, Chairman of the Board of Directors of Eva Hotels & Resorts, stated that the company continued to execute its operational and investment plans despite ongoing uncertainty stemming from regional geopolitical developments, supported by its strong financial position, underpinned by a solid asset base and low liability levels. He emphasized the company’s commitment to enhancing operational efficiency and improving the quality of revenues and long-term returns, thereby supporting business growth and reinforcing its ability to deliver sustainable value to shareholders.

He noted that the pressures faced by the sectors in which the company operates during the period resulted from exceptional circumstances, while the economic fundamentals in its key markets, particularly the United Arab Emirates, which hosts most of its projects, remain strong and resilient.

Regarding the company’s operational activities and projects under development, construction works continued according to approved schedules. The Ayla Dorchester project progressed in its construction activities, reaching a completion rate of 68.51% by the end of the second quarter of 2026. Meanwhile, the Ayla Infinity project showed significant progress in its development, achieving a completion rate of 65.79% by the end of the second quarter of 2026.

Continuing its successes in developing luxury real estate projects, including Ayla Dorchester, Ayla Infinity, and The Hills, the company announced in the second quarter of 2026 the signing of a partnership agreement with Kuwait Real Estate Company to acquire a 66.6% stake in plot (C1) located in Area 12, Shuwaikh Al-Sidra, in the Emirate of Abu Dhabi. Eva Hotels & Resorts’ share in this investment will amount to 20%.

Aria Holidays Club faced operational challenges during the second quarter due to the continued impact of geopolitical conditions on tourist inflows to Dubai, which negatively affected revenues. In response, management continued to implement a disciplined cost management approach and maintain liquidity, which helped support the financial position during the period of reduced activity.

Regarding the performance of the facilities management and services sector, Strive Services Group revenues increased by 6.5% during the first half of 2026 compared to the same period in 2025.