Real estate sales growth raises total income by 51% to 1.72 billion dirhams

Dubai Investments reports a 47% increase in its half-year net profit

Dubai Investments attributed the increase in profits to the improvement in the performance of the manufacturing, contracting and investment sectors.

From the source

Dubai Investments Company, listed on the Dubai Financial Market, announced yesterday that its net profit increased by 47%, to reach 302 million dirhams for the first half of this year ending on June 30, 2021, compared to 205 million dirhams for the same period last year.

In a statement, the company attributed this rise mainly to the company's improved performance in the manufacturing, contracting and investment sectors.

According to the company, the total income for the mentioned period increased by 51%, to reach 1.72 billion dirhams, compared to 1.14 billion dirhams for the same period last year, thanks to the growth of the group's sales in the real estate sector.

The results indicated that Dubai Investments acquired an additional 21.53% stake in the National General Insurance Company, during the first half of 2021. It also later acquired a 15.19% stake in the company.

"We are pleased that our activities during the first half of 2021 have resulted in such an integrated and promising growth," said Khalid bin Kalban, Vice Chairman and Chief Executive Officer of Dubai Investments.

He continued: “We will remain committed to diversifying our investments in the healthcare and education sectors, while also focusing on real estate, including the ongoing development of mixed-use residential communities in (Mirdif Hills) and Fujairah.

We also continue to explore opportunities for sustainable growth across all sectors in which we operate.”

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