Staff Report
Dubai, UAE
Dubai Investments, the leading, diversified investment company listed on the Dubai Financial Market (DFM), reported a 55 percent jump in first quarter 2023 net profit to Dh314.45 million, compared to Dh202.55 million during the corresponding period of 2022.
Total revenue increased 34 percent to Dh1.02 billion compared to Dh761.04 million during the first quarter of 2022. Total shareholder equity also increased to Dh13.16 billion, compared to Dh12.28 billion during the same period in 2022. Total assets for the group remained stable at Dh20.96 billion.
Khalid Bin Kalban, Vice Chairman and Chief Executive Officer of Dubai Investments, said, “Dubai Investments continues to deliver strong and sustainable results fueled by the Group’s strategic initiatives and ability to capitalise on key opportunities. The response to Danah Bay, our premium beachfront development in the emirate of Ras Al Khaimah, has exceeded all expectations and we are looking forward to launching the next phase.
“We are also progressing well with our expansion into other geographies and enhancing internal capabilities while building on existing businesses. With the economy experiencing robust growth and strong upward trajectory in the real estate sector, Dubai Investments is strategically positioned to capitalize on these favorable conditions.”
Dubai Investments, which owns and operates its flagship property Dubai Investment Park, was incorporated in 1995. Since then, it has grown to become a major player in the economy of Dubai and the UAE, with prudent investments in diversified sectors and markets across the globe real estate, industrial, financial, healthcare and education among others. Listed on the Dubai Financial Market in 2000, Dubai Investments has 15,583 shareholders with a share capital of Dh4.25 billion. Through its businesses, Dubai Investments has empowered communities driving positive growth in all fronts.
