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Real estate company gives out a total of $10 million in bonuses

When employees at a Baltimore-based commercial real estate firm handed out red envelopes to employees during the annual holiday party on Saturday, they had the biggest surprise.

A total of 198 employees of St. John Properties received surprise bonuses averaging $50,000 (Dh 183,660). All their bonuses amounted to a total of $10 million (Dh36,732,000).

In an interview with CNN, the company President Lawrence Maykrantz said that they had reached a major goal of developing 20 million square feet in real estate, doubling the amount in 14 years.

He said this is their way of saying thank you to their employees for helping out achieve their goal.

Each employee received money based on the number of years they have been working at the company with the lowest receiving $100, for an employee who was just hired and hadn’t started with the company yet. The largest bonus was $270,000 (Dh 991,764).

Staff Report

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