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Dubai, May 12 / Dubai Investments, the leading investment company listed on the Dubai Financial Market (DFM), announced that it achieved a net profit of 314.45 million dirhams during the first quarter of 2023, an increase of 55%, compared to 202.55 million dirhams. for the same period in the year 2022.
The total revenues of the group recorded a remarkable growth, reaching 1.02 billion dirhams, compared to 761.04 million dirhams during the first quarter of 2022, an increase of 34%.
Total shareholders’ equity also increased to 13.16 billion dirhams, compared to 12.28 billion dirhams during the same period in 2022. Meanwhile, the group succeeded in maintaining the stability of its total asset value at 20.96 billion dirhams.
Khalid Bin Kalban, Vice Chairman and Chief Executive Officer of Dubai Investments, said that Dubai Investments continues to achieve strong and sustainable results, supported by the group’s strategic initiatives and its ability to take advantage of key and available opportunities. The demand for the “Dana Bay” project, one of the most prominent and distinguished beach projects launched by the company in the Emirate of Ras Al Khaimah, has exceeded expectations and we are looking forward to the start of the next phase of the project.
He added that, in addition to the progress made at the level of expansion plans in other geographical areas and the strengthening of internal capabilities and capabilities, while benefiting from the existing business, and in light of the strong growth witnessed by the economy in general and the strong upward path and steady growth in the real estate sector, “Dubai” succeeded. to invest” in strengthening its location and strategic position, which would constitute an enabling element to take advantage of these favorable conditions.
