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Abu Dhabi / Emirates Business
Eshraq Investments PJSC, the Abu Dhabi based investment company listed on Abu Dhabi Securities Exchange (ADX), reported a net profit of AED 4 million for the period ending on June 30, achieving another profitable half yearly result under the new management.
Eshraq’s diversification pla-ns continued to pay off with each of its business divisions recording strong growth during the first half of the year. The Company’s leasing and hospitality businesses including its residential apartments in DIFC and Nuran Marina hotel apartments continued to outperform the market through their premium offering and quality, with occupancy rates touching 100% and 88% respectively. Eshraq’s investment portfolio also generated strong income from investments and deposits.
On the development front, Eshraq’s Marina Rise project in Reem Island construction is now over 40% complete and is targeted to be ready by Q4 2020. Once completed, Marina Rise will be the first development project to contribute to Eshraq’s bottom line from next year.