NEOM, Saudi Arabia, May 8, 2024 /PRNewswire/ — The Board of Directors of NEOM has announced Jaumur, the largest cosmopolitan luxury community set on the coast of Gulf of Aqaba, designed to serve the highest standards of future livability and active lifestyle. This new addition promises a unique blend of experiences on both land and sea, complementing NEOM’s evolving regional development in northwest Saudi Arabia.

Jaumur is an exclusive residential community thoughtfully master planned around an inspiring marina for more than 6,000 residents. Embedded into the varied topography of the Gulf of Aqaba coast, it features 500 marina apartments and nearly 700 luxury villas, boasting waterfront access and private mooring. Two distinctive destination hotels within Jaumur offer 350 luxurious rooms and suites, inviting guests to enjoy the breathtaking views and embrace all aspects of modern coastal hospitality and sporting activities.

The marina serves as the focal point of the development, the beating heart around which the vibrant community of Jaumur thrives. A monumental 1.5-kilometer aerofoil rises above the largest of the yacht berths, providing year round protection for yacht owners and a haven for the marina’s residents and guests. The aerofoil incorporates a gravity-defying cantilever to form a stunning entrance to the marina, welcoming the world’s largest superyachts. The sculptural structure is a landmark that serves as the perfect base for all the marina attractions, for committed yachting enthusiasts and adventurers seeking personalized experiences.

The marina promenade will be a place alive with entertainment, leisure and cultural experiences, hosting year-round arts events and performance programs, complemented by signature retail stores and world-class dining options.

Jaumur’s commitment to innovation and learning is embodied in the development’s state-of-the-art deep-sea research center and top-tier international boarding school. The research institute is dedicated to deep-sea exploration, welcoming established experts and ambitious pioneers to champion marine discovery, knowledge and conservation and establish NEOM as a world-leading hub for oceanographic research.

The international boarding school will attract select students from around the world, preparing them for global achievement through an exclusive and progressive, broad based education, delivered by a diverse international faculty of experts and innovators.

Jaumur’s unique architectural design integrates water where golden sands meet the deep blue of the Gulf of Aqaba. It is a luxury destination to visit, explore, live and prosper: an opportunity to become part of a dynamic community.

Jaumur follows the recent announcements of Leyja, Epicon, Siranna, Utamo, Norlana, Aquellum, Zardun, Xaynor, Elanan, Gidori, and Treyam as sustainable tourism destinations within the Gulf of Aqaba, all woven together by NEOM’s commitment to sustainable progress.

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About NEOM

NEOM is an accelerator of human progress and a vision of what a New Future might look like. It is a region in northwest Saudi Arabia on the Red Sea being built from the ground up as a living laboratory – a place where entrepreneurship will chart the course for this New Future. It will be a destination and a home for people who dream big and want to be part of building a new model for exceptional livability, creating thriving businesses and reinventing environmental conservation.

NEOM will include hyperconnected, cognitive cities, ports and enterprise zones, research centers, sports and entertainment venues and tourist destinations. As a hub for innovation, entrepreneurs, business leaders and companies will come to research, incubate and commercialize new technologies and enterprises in groundbreaking ways. Residents of NEOM will embody an international ethos and embrace a culture of exploration, risk-taking and diversity.

For further information email [email protected] or visit www.neom.com and www.neom.com/en-us/newsroom.

This material is distributed by Teneo Strategy LLC on behalf of NEOM Company. Additional information is available at the Department of Justice, Washington, DC.

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VILNIUS, Lithuania, May 8, 2024 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is thrilled to announce the launch of an extraordinary campaign in celebration of its 6th anniversary. From May 8 to May 31, BingX users are invited to join in the festivities, promising an exhilarating lineup of events and rewards for enthusiasts diving into the dynamic realm of crypto trading. To express its profound appreciation for its dedicated community, BingX is proud to inaugurate the celebration with an impressive prize pool totaling 13 Million USDT, a testament to the integral role users have played in its journey of success.

Marking its 6th year milestone, BingX reflects on its inception in 2018 with a visionary mission to serve as the gateway to the next generation of crypto users, making crypto accessible and friendly to all. Over the past six years, BingX has remained steadfast in its commitment to empowering traders with a reliable and robust trading platform equipped with innovative features and a diverse range of products.

Throughout the carnival period, BingX users can anticipate a myriad of captivating online campaigns tailored to futures trading, spot trading, fiat trading, and wealth management, respectively. For futures trading aficionados, exclusive individual and group trading competitions, generous giveaways, limited-time promotions, and more await, boasting an impressive total prize pool of 12 million USDT. Additionally, daily clock-ins will be rewarded with hot coins and trial funds, complemented by engaging games such as Kick-and-Win activities. Spot traders will also have the opportunity to participate in Kick-and-Win games, with tiered awards based on their actual trading volume. BingX is also introducing special wealth management products to enhance the celebratory atmosphere, featuring flexible deposits offering APYs of up to 10% and a grand Team-up Deposit Season. Furthermore, cash bonuses will be distributed based on the fiat trading volume.

Vivien Lin, Chief Product Officer of BingX, shared her enthusiasm for the upcoming campaign, stating, “At BingX, we remain steadfast in our dedication to providing users with innovative solutions that propel their success in the cryptocurrency market. As we witness the growing interest in the market and a surge in trading activity, we are delighted to offer a promotion unlike any other, aimed at rewarding our users and extending a warm welcome to new participants joining our vibrant community.”

About BingX 

Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became Chelsea FC’s principal partner, marking an exciting debut in the world of sports.

For more information please visit: https://bingx.com/

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Kojamo plc Stock Exchange Release, 8 May 2024 at 2.00 p.m. EEST

HELSINKI, May 8, 2024 /PRNewswire/ — Total revenue and net rental income increased, no significant value changes in the investment properties

This is a summary of the January–March Interim Report, which is in its entirety attached to this release and can be downloaded from the company’s website at www.kojamo.fi/investors.

Unless otherwise stated, the comparison figures in brackets refer to the corresponding period of the previous year. The figures in this Interim Report have not been audited.

Summary of January–March 2024

• Total revenue increased by 4.7 per cent to EUR 113.3 (108.2) million.
• Net rental income increased by 1.9 per cent to EUR 60.6 (59.5) million. Net rental income was 53.5 (55.0) per cent of total revenue.
• Result before taxes was EUR 39.3 (24.0) million. The result includes EUR 11.1 (-9.0) million in net result on the valuation of investment properties at fair value and EUR -0.9 (0.0) million in profit/loss from the sale of investment properties. Earnings per share was EUR 0.13 (0.08).
• Funds From Operations (FFO) decreased by 11.5 per cent to EUR 25.5 (28.8) million.
• The fair value of investment properties was EUR 8.1 (8.2) billion at the end of the review period, including EUR 0.0 (7.5) million in Investment properties held for sale.
• The financial occupancy rate was 92.4 (92.2) per cent for the review period.
• Gross investments amounted to EUR 8.4 (54.9) million, or 7.4 (50.8) per cent of total revenue.
• Equity per share was EUR 14.83 (15.22), and return on equity was 3.5 (2.0) per cent. Return on investment was 3.5 (2.3) per cent.
• EPRA NRV (Net Reinstatement Value) per share fell by 3.3 per cent to EUR 18.60 (19.23).
• There were 113 (1,485) Lumo apartments under construction at the end of the review period.

Kojamo owned 40,860 (39,550) rental apartments at the end of the review period. Since March of last year, Kojamo has acquired 0 (985) apartments, completed 1,372 (1,397) apartments, sold 73 (0) and demolished or otherwise altered 11 (0) apartments.

Key figures

Outlook for Kojamo in 2024 specified

Kojamo estimates that in 2024, the Group’s total revenue will increase by 4–7 per cent (previously 4–8 per cent) year-on-year. In addition, Kojamo estimates that the Group’s FFO for 2024 will amount to between EUR 152–164 million, excluding non-recurring costs (previously EUR 154–166 million).

The outlook is based on the management’s assessment of total revenue, property maintenance costs and repairs, administrative expenses, financial expenses, taxes to be paid and new development to be completed, as well as the management’s view on future developments in the operating environment.

The outlook takes into account the estimated occupancy rate and rises in rents as well as the number of apartments to be completed. The outlook does not take into account the impact of potential acquisitions or disposals on total revenue and FFO.

The management can influence total revenue and FFO through the company’s business operations. In contrast, the management has no influence over market trends, the regulatory environment or the competitive landscape.

CEO’s review

Total revenue and net rental income as well as profit before taxes increased in the first quarter of the year. FFO decreased compared to the comparison period particularly due to the increase in financial expenses and maintenance costs resulting from the cold winter. The fair value of the investment properties did not change significantly during the review period. Our financial position is strong, and our liquidity is good.

Our occupancy rate slightly improved from the comparison period, and tenant turnover remained at last year’s level. The usual seasonal variation was visible in renting during the winter months, and the occupancy rate was lower than at the turn of the year. The balancing of demand and supply is still in progress. Although the number of new start-ups has been exceptionally low already for a couple of years, a large number of previously started properties were completed to the market. Therefore, the supply of rental apartments is still plentiful. After the completion of the ongoing projects in the market, the decrease in housing supply is expected to begin, and no new supply will be completed to a significant extent in the next two years. This is estimated to lead to a considerable decrease in the supply of rental apartments. In the end of the review period, we had only one ongoing development project, from which 113 Lumo homes will be completed by the end of June. At the beginning of the year, we have made higher rent increases than in recent years, and as the supply will turn to decline, the possibilities for rent increases are expected to improve further.

The saving programme we started last fall is progressing according to the plan. The personnel layoffs have been realized, and we have reduced our investments substantially, limiting ourselves to the completion of previously started development projects and modernization investments as well as repairs that support renting. The past winter was cold, and there was a lot of snow which, together with the larger property portfolio, increased the maintenance costs at the beginning of the year. In terms of administrative and marketing expenses, the savings have been realized as planned.

We successfully took the new ERP system into use during the first quarter of the year. The project was an extensive effort, and the implementation involved personnel throughout the organization for more than a year. The new system enables the further development of efficiency and processes as well as increasing the benefits of digitalization.

With the saving programme and the financial arrangements made, the loans maturing in 2024 and 2025 are covered. In January, we issued a EUR 200 million unsecured bond as a private placement. This was the first sizable euro-denominated bond issuance by a residential real estate company since 2022. In addition, at the end of March, we made secured EUR 250 million bank financing with our three relationship banks.

Jani Nieminen

CEO

News conference as a webcast

Kojamo will hold a news conference for institutional investors, analysts and media on 8 May 2024 at 3.00 p.m. EEST at the company’s head office at Mannerheimintie 168A, Helsinki. The event will be held in English. After the event, the media has a possibility to ask questions also in Finnish.

The event can also be followed as a live webcast through which it is possible to ask questions. No registration for the webcast in advance is needed. The event will be accessible at https://kojamo.videosync.fi/q1-2024.

A recording of the webcast will be available later at the company’s website at https://kojamo.fi/en/investors/releases-and-publications/financial-reports/.

For more information, please contact:

Niina Saarto, Director, Treasury & Investor Relations, Kojamo plc, tel. +358 20 508 3283, [email protected]

Erik Hjelt, CFO, Kojamo plc, tel. +358 20 508 3225, [email protected]

Distribution:

Nasdaq Helsinki, Irish Stock Exchange, key media

Kojamo is Finland’s largest private residential real estate company and one of the biggest investors in Finland. Our mission is to create better urban housing. Lumo offers environmentally friendly housing and services for the city dweller who appreciates quality and effortlessness. We actively develop the value of our investment properties by developing new properties and our existing property portfolio. We want to be the property market frontrunner and the number one choice for our customers. Kojamo’s shares are listed on the official list of Nasdaq Helsinki. For more information, please visit https://kojamo.fi/en/

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