Dubai Investments reported a net profit after tax of Dh650.51 million for the nine-month period ending September 30, 2024. For the three-month period ending September 30, the Group recorded a net profit after tax of Dh241.31 million, compared to Dh236.54 million in the same period last year. Adjusted for a one-off gain on the fair valuation of investment properties, net profit attributable to shareholders increased by 80% for the nine-month period and 78% for the three-month period.
Total assets grew to Dh21.81 billion as of September 30, 2024, from Dh21.44 billion on December 31, 2023, with equity attributable to shareholders reaching Dh13.58 billion, up from Dh13.46 billion.
“The Group is encouraged by the dynamic momentum in the real estate sector, complemented by the improved performance of its investment portfolio,” said Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments. “Dubai Investments will continue to monetise its real estate assets as part of the Group’s strategic objectives. By strategically capitalising on emerging opportunities and implementing forward-looking investment strategies, the Group remains well-positioned to drive long-term value for the shareholders.”
