Eva Hotels earns KD 2.54 million in the first half

Eva Hotels & Resorts reported profits of 2.54 million 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 is 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. This affected hotel occupancy levels and tourism activity overall.

Despite these exceptional circumstances, the company continued to strengthen its financial position, with total assets increasing by 5.73 percent and equity attributable to the parent company’s shareholders growing by 17.94 percent compared to the first half of 2025. The company also continued to implement its operational and investment strategies aimed at enhancing operational efficiency, diversifying revenue sources, and advancing its expansion projects and strategic investments, thereby supporting sustainable growth and enhancing value for shareholders.

Commenting on the results for the first half of 2026, Khaled Asbiyeh, 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. This was underpinned by the strength of its financial position, supported by a solid asset base and low liability levels, which enabled it to maintain flexibility and continue its expansion projects. He reaffirmed the company’s commitment to improving operational efficiency and enhancing the quality of revenues and long-term returns, 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 were due to exceptional circumstances, while the economic fundamentals in its key markets, particularly the United Arab Emirates where most of its projects are located, remain strong and resilient. These fundamentals are supported by continued spending on development projects, the resilience of the real estate sector, and investor confidence, which enhance expectations of a return to normal activity levels as regional tensions ease.

Regarding the company’s operational activities and development projects, construction works are proceeding according to approved schedules. The Ayla Dorchester project continued to make progress in construction, with completion exceeding 68.51 percent by the end of the second quarter of 2026. Meanwhile, the Ayla Infinity project also showed significant progress in development, reaching 65.79 percent completion by the end of the second quarter of 2026, reflecting continued execution in line with approved plans and timelines.

Building on the company’s successes in developing luxury real estate projects, including Ayla Dorchester, Ayla Infinity, and Al Tee Hills, Eva Hotels & Resorts announced in late Q2 2026 the signing of a partnership agreement with Kuwait Real Estate Company to acquire a 66.6 percent stake in plot (C1) located in Area 12, Shuyouh Al Sudairah, Abu Dhabi Emirate, UAE. Eva Hotels’ share in this investment will amount to 20 percent.

This partnership reflects the company’s strategy of expanding into high-value, premium real estate projects and capitalizing on promising investment opportunities in the UAE market, thereby strengthening its investment portfolio and supporting sustainable growth and long-term returns for shareholders.

Aria Holidays Club faced operational challenges during the second quarter, as ongoing geopolitical conditions continued to affect tourist inflows to Dubai, negatively impacting revenues. In response, management maintained a disciplined approach to cost control and liquidity preservation, which helped support the company’s financial position amid the downturn in activity.

Regarding the performance of the Facilities Management and Services segment, Strive Services Group reported a 6.5% increase in revenues in the first half of 2026 compared to the same period in 2025, driven by strong performance in its facilities management and residential services divisions. The period also saw several operational milestones, including the award of seven new projects, continued management of residential complexes across the UAE, and ongoing fit-out works.

Domus Managed Housing continues preparations for the handover of its fifth building, comprising 530 rooms, which will complete an integrated residential community with a total capacity of 5,000 residents. During the second half of the year, the company remains focused on achieving measured growth, enhancing service quality, and sustaining operational performance.

Meanwhile, the Zimbali Lakes project in South Africa continued to make progress on its development plans during the second quarter of 2026. The Zimbali Lakes Clubhouse was officially opened, infrastructure and sports facility development works continued, and the Tonino Lamborghini Suites & Residences project was announced, reflecting the company’s commitment to enhancing the project’s long-term value. The project maintained strong operational and commercial performance, supported by sustained demand for residential units, an 85% occupancy rate at Zimbali Square, continued growth in golf and hospitality activities, and progress on future development phases.

These achievements reinforce Zimbali Lakes’ position as an integrated destination combining luxury residential living, hospitality, and leisure, supporting sustainable growth and enhancing its contribution to the company’s results in the coming periods.

In his concluding remarks, Aspiate expressed confidence in the company’s outlook, citing its strong financial position, diversified asset and investment portfolio, and the continued execution of strategic projects in markets with robust economic fundamentals.

He emphasized that management will continue to focus on enhancing operational efficiency and financial discipline, supporting sustainable growth and maximizing long-term shareholder value, while maintaining the flexibility needed to navigate economic and geopolitical changes.