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Dubai Investments net profit up 59% at Dh580 million in H1-2023

Dubai Investments records a significant 59% rise in net profit, reaching Dh580 million in the first half of 2023. Discover the key drivers behind this remarkable financial performance and stay updated on market trends and UAE's thriving economy.

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Dubai Investments net profit up 59% at Dh580 million in H1-2023

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Mar 22, 2024

Total income for the Group increased by 31% to Dh2.03 billion during H1-2023
Dubai Investments, the company behind industrial parks and upscale resort projects, has seen its H1-2023 net profit zoom to Dh580 million, up 59 per cent compared to Dh364 million a year ago.

Total income for the Group increased by 31 per cent to Dh2.03 billion during the first-six months of 2023. Total shareholder equity increased to Dh12.90 billion as of June 30, 2023, compared to Dh12.84 billion as of year ended December 31, 2022.
“The increase in net profit is mainly due to the strong performance of the real estate segment underpinned by substantial returns from the investment portfolio,” said Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments. “The Danah Bay, Al Marjan Island, Ras Al Khaimah project continues to attract significant interest. Whilst the real estate sector remains one of our key business verticals, we are also focused on deploying capital effectively in other value-accretive opportunities.”

Source: gulfnews.com