EVA Hotels Posts 2.74 Million Dinars in 9 Months

Eva Hotels & Resorts announced its financial results for the nine-month period ended September 30, 2026, reporting a net profit of 3.42 million dinars, of which 2.74 million dinars were attributable to shareholders of the parent company. Total assets grew by 4.04 percent to reach 190.73 million, while total equity increased by 11.81 percent, reflecting growth in the company’s asset base and an enhancement of shareholders’ equity.

Khaled Asbeih, Chairman of the Board of Directors of Eva Hotels, stated: “The Gulf region experienced geopolitical events that cast a shadow over markets, with their effects persisting through the third quarter. This prompted many investors to exercise caution in directing their capital toward regional projects. However, markets are gradually recovering, and we view this as an opportunity for those with a long-term vision. The results for the first nine months have demonstrated Eva Hotels’ ability to adapt to changing circumstances. We will continue to build on this foundation with diligence and discipline, placing the trust of our shareholders and partners at the forefront of our priorities.”

Regarding developments in the company’s projects and operations during the third quarter, development works continued at a steady pace on the “Orla” and “Orla Infinity” projects, with various phases being executed according to the established schedule. Completion rates reached 76.85 percent for the “Orla” project and 77.78 percent for the “Orla Infinity” project by the end of the third quarter of 2026. These figures reflect significant progress in both projects, with ongoing efforts to complete the remaining phases.

The third quarter remained challenging for Aria Holidays Club, as the geopolitical situation continued to pressure Dubai’s key export markets. Although tourism activity recovered somewhat compared to the previous quarter, customer quality declined noticeably. Sales and bookings improved compared to the second quarter, benefiting from the momentum following the ceasefire, but remained below the same period last year due to a reduction in marketing trips and a weaker customer mix. Management continues to monitor conversion rates and customer profiles to protect the quality of new business. Collections from existing members also continued to improve, albeit with considerable difficulty, showing better engagement from expatriate members and flexibility in membership structures that offer practical settlement options.

A notable positive development this quarter was progress in business modernization. Investments in systems, communications, and AI-supported software yielded tangible gains in efficiency and a slow but steady increase in collections. Despite difficult trading conditions and no near-term prospect of returning to pre-crisis levels, Aria enters the final quarter with improved momentum, a cleaner order book, and a more efficient operational platform, positioning it well to capitalize on the ongoing restoration of confidence in the destination.

Strive Services Group reported revenues of 65.28 million UAE dirhams for the nine-month period ended September 30, 2026, representing a 4 percent decline compared to the same period in 2025. This variance was primarily attributed to the interior fit-out business segment, where several clients postponed project-related decisions until the last quarter of the year.

The Group signed a strong portfolio of new contracts during the third quarter. Domus Managed Housing also welcomed Anantara’s entry into its managed residential community. The third quarter marked a turning point for the Strive Group. Despite challenging regional conditions, the Group’s performance has continued to improve steadily throughout the year, entering the final months of 2026 on a stronger footing.

In South Africa, the third-quarter 2026 results for the Zimbali Lakes project reflected steady progress in infrastructure works and real estate sales, alongside sustained growth in the hospitality and golf sectors. Year-to-date marketing sales totaled approximately 235 million rand. Sales were distributed across plots, with 22 transactions; Avanti residences, with 18 transactions and 56 units sold out of 73; and Ernie Els apartments, with 10 transactions and 56 units sold out of 57.

On the development front, works in the third phase (TATALI) are proceeding according to schedule, with 90 percent of main services and excavation works expected to be completed by year-end. Forty-five houses are currently under construction, and 16 building plans have been submitted to the local council for approval. Construction has also commenced on the Zimbali Sports Club, which will include a golf training facility, and later feature tennis and padel courts, as well as the Els Performance Golf Academy.

Zimbali Square Signature Retail achieved an occupancy rate of 85 percent. In late August, the launch event for the private joint-development project, Zimbali Country Estate, was held to strong attendance, marking a positive start to sales in its first phase.

Concluding his remarks, Aspieth said, “We believe that confidence in the regional markets is gradually returning, and we look ahead to the coming months with cautious optimism. We will continue to focus on business development and enhancing operational efficiency, safeguarding the value of our shareholders’ investments and positioning us well to capitalize on the region’s renewed momentum.”