Dubai Investments H1 Profit Jumps 59 Percent on Real Estate Growth, Investment Returns
TEHRAN (ANA)- The net profit of Dubai Investments, an investment company based in the United Arab Emirates (UAE), recorded a year-on-year growth of 59 percent to 580 million UAE dirhams (157.9 million US dollars) in the first half of 2023, official news agency WAM reported.
The overall revenue of the company from January to June totaled 2.03 billion dirhams, up by 31 percent from the 1.55 billion dirhams in the same months of last year, it said.
The net profit increase was mainly due to the strong performance of the real estate sector and significant returns from the investment portfolio, Khalid bin Kalban, vice chairman and CEO of the company, was quoted as saying.
Total shareholder equity of the company increased marginally from 12.84 billion dirhams at the end of 2022 to 12.9 billion dirhams as of June 30, said the report.
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