Dubai Investments, a prominent investment company with a diverse portfolio listed on the Dubai Financial Market, has disclosed a 55% surge in its Q1 2023 net profit to AED 314.45M, up from AED 202.55M during the same period in 2022.
The Group’s overall revenue rose by 34% to AED 1.02B in Q1 2023, up from AED 761.04M in the corresponding period of the previous year. Furthermore, the total shareholder equity saw a rise to AED 13.16B from AED 12.28B during the same Q1 2022 period. However, the total assets for the Group remained steady at AED 20.96B, according to WAM.
Khalid Bin Kalban, Vice Chairman and Chief Executive Officer of Dubai Investments, said, “Dubai Investments continues to deliver strong and sustainable results fuelled 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.”
He added, “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 capitalise on these favourable conditions.”
