The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
DUBAI/ WAM
Dubai Investments, listed on the Dubai Financial Market, announced a net profit attributable to shareholders after tax of AED119.96 million for the first quarter, compared to AED314.44 million in the corresponding period last year. Excluding the one-off gain on the fair valuation of investment properties in 2023, the Group’s profit for the same period has surged by 90%.
Total income for the period was AED791.88 million, compared to AED1.01 billion for the same period last year, and total assets remained stable at AED21.46 billion. Khalid bin Kalban, Vice Chairman and CEO of Dubai Investments, said that these results demonstrate the upward trajectory and long-term growth drivers within the real estate market, which support Dubai Investments’ strategic initiatives that focus on investing in growth opportunities.
The group anticipates that the positive momentum will continue throughout 2024, driven by robust growth in the real estate sector.