December 11, 2023

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Dubai Investments cross Dh1b in Q1-2023, earnings weighs in with Dh314.5m

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Whole shareholder fairness rose to Dh13.16 billion, from Dh12.28 billion, whereas asset measurement was roughly secure at Dh20.96 billion. (On DFM, the inventory was up 0.45 per cent to Dh2.24 at 11.45am. The 52-week excessive is Dh2.6 and the low stays Dh2.22. The approaching week will present whether or not the inventory will get a bounce from the Q1 numbers. )

The corporate – which operates a massively in style and occupied industrial and logistics park in Dubai – has been investing push in a number of instructions. There was the stake purchase in a UK digital financial institution, after which there was the Dh1 billion resort mission in Ras Al Khaimah. (It follows up an earlier deal the place it purchased a majority within the Dubai insurer NGI, including to Dubai Investments’ rising base within the monetary companies area.)

Now, the corporate is planning a brand new section launch in Ras Al Khaimah.

The response to Danah Bay, our premium beachfront growth in Ras Al Khaimah, has exceeded all expectations and we’re wanting ahead to launching the following section,” stated Khalid Bin Kalban, Vice-Chairman and CEO. “We’re additionally progressing effectively with our enlargement into different geographies and enhancing inner capabilities whereas constructing on present companies.

“With the economic system experiencing strong development and robust upward trajectory in the actual property sector, Dubai Investments is strategically positioned to capitalize on these favorable situations.”

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