Dubai Investments reports Dh491 million net profit for H1 2018

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Staff Report

Dubai Investments, the leading, diversified investment company listed on the Dubai Financial Market, has reported net profit of AED491 million for the six month period ended June 30, 2018, showing an increase of AED 11 million compared to AED 480 million for the same period last year.

Company’s total assets grew to AED 19.04 billion compared to AED 17.0 billion as at 31st December 2017 and the total income during the period was AED 1.58 billion compared to AED 1.28 billion for the same period last year. The annualized return on equity for the period was 8.34%.

In his comments, Khalid Bin Kalban, Managing Director and CEO of Dubai Investments, said: “Dubai Investments registered steady growth in its financial results during the first half of 2018. The increase in total income, net profit and total assets is quite encouraging given the challenging economic environment and has been driven mainly by strategic acquisition of Emicool.”

He added: “Dubai Investments is working on development of several real estate projects such as Mirdif Hills, Green Community DIP – Phase 3 and Fujairah Business Centre. Further, the Company is progressing towards its diversification strategy and various proposals related to education, healthcare, leisure activities and financial services are being assessed and evaluated. Dubai Investments subsidiary Al Mal Capital is working with regulators for launching a mixed-use Real Estate Investment Trust (REIT), which will be listed on the DFM before end of the year. These initiatives will ensure sustainability of growth and enhance value to shareholders.” -abdulbasit@theuaenews.com