Reem Investments, one of the leading investment companies in Abu Dhabi, UAE, has registered a net profit of Dh216 million ($59 million) for 2016, up two per cent over the previous year.

Impressed with the results, the company's board of directors has recommended the distribution of 14 per cent cash dividends to the shareholders, said a statement from the company.

The dividends' distribution, which is subject to the approval of the shareholders at the upcoming AGM on March 22, reflects an increase of 17 per cent over 2015 dividend distribution.

Announcing the results at its board meeting, chairman Sheikh Tahnoon Bin Zayed Al Nahyan said the strong and diversified net assets of Dh5.3 billion ($1.4 billion), supports the company’s growth plans which in turn will generate perennial returns to the shareholders.

Reem Developers, the real estate arm of the company, has already started construction of residential projects at Najmat Abu Dhabi in Reem Island and Rawdhat Abu Dhabi in Airport Road with a combined development value of over Dh500 million ($136 million) that will enhance the future profits and shareholder value.-TradeArabia News Service