AED 4.35 billion profits of real estate companies in 3 months

Media in Abu Dhabi 3 June 2018 / WAM /
The combined earnings of 13 companies operating in the real estate sector and listed in the financial markets jumped to AED 4.35 billion in the first quarter of 2018 with a growth of 29.4% compared to AED 3.36 billion in the first quarter of 2017.
The growth recorded by real estate companies from January to March exceeded expectations of real estate experts, which showed the latest reports by the UAE Central Bank that it is still active after its prices are attractive for investment, which is evident through the continuation of the banking system to provide funds For the sector.
Real estate companies listed on the financial markets are among the most distributed companies to the shareholders and their shares are in the forefront of active companies because of the high demand in addition to the shares of the banking sector.
The profits of 8 real estate companies listed on the Dubai Financial Market rose to 3.65 billion dirhams in the first three months of this year, an increase of 36.2 percent compared to about 2.68 billion dirhams in the same period of 2017, according to official statistics from companies operating in the sector.
In terms of performance of real estate companies listed on the Abu Dhabi Securities Exchange, the profits of 5 companies amounted to 704 million dirhams at the end of the first quarter of this year, a growth of 3.8% compared to 678 million dirhams in the same quarter of 2017.