The company has reported one of its strongest financial performances in recent years, highlighting resilience and renewed growth. For the nine months ending 30 September 2025, profit rose to AED 139 million, compared to AED 53 million in 2024, a 162% increase. Revenue also climbed 32% to AED 513 million, driven by operational efficiency and improved subsidiary performance.
At the same time, cash and bank balances reached AED 455 million, marking the highest level in several years. This milestone emphasizes strong liquidity and financial stability. The company has also fully repaid its legacy debt, reducing bank loans from around AED 1.5 billion to AED 302 million. As a result, it achieved a net positive cash position for the first time in its recent history.
Solid Asset Base and Expanding Portfolio
As part of its recovery strategy, the firm completed AED 2.7 billion in asset sales, strengthening liquidity and balance sheet health. It now holds AED 455 million in cash and expects to collect an additional AED 721 million in receivables by December 2026. Total assets reached AED 4.5 billion, while total equity rose to AED 3.3 billion following a successful share capital reduction that erased accumulated losses and restored positive retained earnings.
These results demonstrate reduced leverage and improved financial strength. Moving forward, the company plans to launch a landmark AED 2 billion development by the end of October 2025. This initiative reinforces confidence in Dubai’s thriving property sector and its focus on long-term value creation.
Earlier in 2025, through its subsidiary ServeU LLC, the company acquired the Housekeeping Group for AED 100 million. The acquisition contributed AED 40 million in revenue and AED 4.8 million in net income within just two months. Additionally, it expanded the Group’s workforce to 17,000 employees representing 60 nationalities, reflecting its scale and diversity.
Long-Term Vision and Strategic Direction
The organization is preparing a 15-year rapid growth plan aimed at unlocking shareholder value, diversifying revenue streams, and enhancing recurring income across core and new business lines. With a strong balance sheet, record liquidity, and a robust development pipeline, it is well-positioned to seize upcoming market opportunities.
Eng. Amer Khansaheb, Chief Executive Officer and Board Member, said: “The exceptional Q3 results highlight our ongoing financial transformation, which has laid the foundation for long-term sustainable growth. Through meticulous strategies and a highly disciplined approach, we have successfully repaid all legacy debt, achieving record cash balances and strong profits. Moving forward, we will remain committed to advancing our AED 6 billion development pipeline, while upholding operational excellence and continuing to create unparalleled value for our shareholders.”
With strong corporate governance, financial discipline, and a forward-looking strategy, the company continues to reinforce its leadership position and pave the way for sustainable, profitable growth in the years ahead.
