Dubai PR Network, Online Press Release from Dubai and Middle East

Local News and Government

Filter PR by
  
Dubai Investments reports net profit after tax of AED 650.51 million for the nine-month period ended September 30, 2024

Dubai, UAE, Nov 14th, 2024: Dubai Investments PJSC, the leading diversified investment company listed on the Dubai Financial Market (DFM), announced net profit after tax attributable to shareholders of AED 241.31 million for the three-month period ended 30 September 2024 compared to AED 236.54 million during the corresponding period in previous year.

Further, the Group reported a net profit after tax attributable to shareholders of AED 650.51 million for the nine-month period ending September 30, 2024.

The net profit attributable to the shareholders after tax for the current period is significantly higher by 80% and 78% respectively for the nine-month period ended September 30, 2024 and for the three-month period ended September 30, 2024, if adjusted for the one-off gain on the fair valuation of investment properties.

The Group's total assets grew to AED 21.81 billion as at 30 September 2024 compared to AED 21.44 billion as at 31 December 2023. The equity attributable to the shareholders of the company is recorded at AED 13.58 billion compared to AED 13.46 billion as at 31 December 2023.

Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments, commented: 'Dubai Investments' financial performance for the nine-month period ended September 30, 2024, reflects the Group's strategic commitment to sustainable growth and thoughtful portfolio diversification. This achievement showcases the enduring strength and resilience of the Group's core business operations. The Group is encouraged by the dynamic momentum in the real estate sector, complemented by the improved performance of its investment portfolio. Dubai Investments will continue to monetize its real estate assets as part of the Group's strategic objectives. By strategically capitalizing on emerging opportunities and implementing forward-looking investment strategies, the Group remains well-positioned to drive long-term value for the shareholders.'

Key business highlights

The off-plan sales for Violet Tower at Jumeirah Village Circle have been robust, with construction progressing on track for completion by Q4 2026. Meanwhile, the Danah Bay project is making significant headway, with villas slated for completion in Q1 2025, followed by the Beachfront Villas in Q3 2025 and the Danah Bay Residential Tower in Q4 2026. Additionally, the Group, exemplified by Al Mal Capital REIT, now holds five income-generating assets. These key developments play a pivotal role in reinforcing the Group's real estate portfolio and enhancing its contribution to sustainable income streams.

The Group' geographical expansion efforts are also gaining momentum, marked by the commencement of construction for DIP Angola, the Group's ambitious mixed-use economic zone in Africa. This project demonstrates Dubai Investments vision of establishing integrated hubs that catalyze economic and social progress.

Dubai Investments is dedicated to creating long-term value for its shareholders and this strategic diversification across different emirates and market segments underscores the Group's commitment to risk mitigation and portfolio resilience.

 


 
Posted by : DubaiPRNetwork.com Editorial Team
Viewed 8147 times
PR Category : Local News and Government
Posted on : Thursday, November 14, 2024  12:00:00 PM UAE local time (GMT+4).
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com. Check our Privicy Policy.
Previous Story : ADMAF's Riwaq Al Fikr Hosts an Engaging Panel Discussion wit...
Next Story : Dubai Sports Retreat emphasizes significant role of sports i...
Email this article Print this article

 
 
Most Viewed Press Release posted in the last 7 days
Mercato Wows Visitors with Circus Spectacles, Iconic Slide, and Weekly Cash Prizes This DS... [47359-Views]
IATA Comments on Misguided Solidarity Levy Proposal [34313-Views]
Tadej Pogačar sprints to second in thrilling stage 2 at the Tour de France [28573-Views]
Emirates A350 debuts in Dammam [19184-Views]
Big Wins Continue with PrivilegePLUS at Mercato & Town Centre Jumeirah! [16941-Views]
Why Catrice's Blushin' Charm is the One Thing You Need as Your Travel Essential [16687-Views]
Khalifa Fund for Enterprise Development launches ‘Future Entrepreneur' program to enhance ... [12304-Views]
UAE Circular Economy Council discusses policies to accelerate shift to circular models and... [10213-Views]
UAE Participates in BRICS Finance Ministers and Central Bank Governors Meeting under Brazi... [10098-Views]
Christophe Robin's Summer Travel Essentials for Good Hair Days [9508-Views]
Al Masaood Automobiles Offers Exclusive First Look at 2026 Nissan Patrol NISMO Following W... [9442-Views]
Superman Dives Into Dubai Mall [8585-Views]
Fred shines with new high jewelry creations: 1936 & soleil d'or sunrise [7827-Views]
Tomorrow Takes Flight: The Emirates Group showcases collaborative sustainability initiativ... [7441-Views]
Hourglass cosmetics redefines the art of self-expression with the launch of an innovative ... [7413-Views]
Vacheron constantin presents métiers d'art tribute to the celestial the quest for excelle... [7339-Views]
Malls Across Dubai Come Alive This DSS With Non-Stop Entertainment, Unbeatable Prizes, and... [7204-Views]
MBRF and UNDP to organise 10th edition of Knowledge Summit [7159-Views]
Tadej Pogačar claims UAE Team Emirates-XRG's 60th win of season at Tour de France [6921-Views]
The World Between Lines and Symbols: An Interactive Art Workshop at Mohammed Bin Rashid Li... [6806-Views]
Taiwan Excellence Launches Innovative "Go Healthy with Taiwan" Campaign in the G... [6650-Views]
dnata Catering & Retail forms strategic partnership in Indonesia [5695-Views]
Dubai Open Tennis Academies Championship Concludes with Resounding Success [5666-Views]
G42 and UAE Team Emirates–XRG launch first global GEN AI-designed helmet and competition [5658-Views]
Dubai Culture Wins 'Best AI Governance Framework 2025' at GovTech Innovation Awards [5658-Views]
 
RSS Facebook Twitter LinkedDin DubaiPRNetwork.com on Instagram
Back to Section Home

Related Stories

 
Top Sections
 
Top Stories