Dubai Investments, a leading, diversified investment company, reported net profit of Dh491 million ($133.6 million) for the first six months (H1) of the year, an increase of Dh11 million compared to Dh480 million for H1 2017.

The company’s total assets grew to Dh19.04billion compared to Dh17.0 billion as at December 31, 2017 and the total income during the period was Dh1.58 billion compared to Dh1.28 billion for the same period last year. The annualized return on equity for the period was 8.34 per cent.

Khalid Bin Kalban, managing director and CEO of Dubai Investments, said: “Dubai Investments registered steady growth in its financial results during the first half of 2018.The increase in total income, net profit and total assets is quite encouraging given the challenging economic environment and has been driven mainly by strategic acquisition of Emicool.”

“Dubai Investments is working on development of several real estate projects such as Mirdif Hills, Green Community DIP – Phase 3 and Fujairah Business Centre. Further, the Company is progressing towards its diversification strategy and various proposals related to education, healthcare, leisure activities and financial services are being assessed and evaluated.

“Dubai Investments subsidiary Al Mal Capital is working with regulators for launching a mixed-use Real Estate Investment Trust (REIT), which will be listed on the DFM before end of the year. These initiatives will ensure sustainability of growth and enhance value to shareholders,” he added. – TradeArabia News Service