Khalid bin Kalban, Vice Chairman of the Board of Directors of Dubai Investments, expected that the DANA BAY project in the Emirate of Ras Al Khaimah would add about 1.5 billion dirhams to the company's revenues.
According to Arab Net, Bin Kalban said that Dubai Investments seeks to benefit from the steady increase in the number of tourists in the Emirate of Ras Al Khaimah, as well as from the projects announced in Ras Al Khaimah, especially on Al Marjan Island, and there is a desire from investors to enter the real estate market and hospitality projects there.
He explained that the project is worth one billion dirhams, and the company will benefit from sales of villas and apartments and long-term investments in the hotel and the commercial center, expecting that the project, during the next 3-4 years, will add about 1.5 billion dirhams to Dubai Investments' revenues.
The chief executive officer of Dubai Investments stressed the continuation of cash dividends to shareholders, especially since it has distributed rewarding returns for 20 years, and exit operations raise the value of dividends, which amount to about 10% annually, indicating that it may increase during the current year.
Khalid Kalban expected the continued momentum of revenue and profit growth in the second half of this year, especially that Dubai Investments has good levels of liquidity, revenues and flows and is trying to balance financial needs and cash flows.
On the global situation, the Vice Chairman of the Board of Directors of Dubai Investments said that the global economy is facing geopolitical situations, fears of recession, the energy crisis, and low growth rates globally compared to previous years before the Corona pandemic, but some regions, such as the Gulf region, have great advantages represented in high oil prices, availability of liquidity and rates Reasonable interest and open appetite from investors to resort to the UAE for investment in light of government initiatives that presented a positive image of the UAE economy.
Khalid bin Kalban added that Saudi Arabia has continuous activity and offers giant projects, as well as Egypt, and these are positive indicators that lead to continued economic growth in the region.
Dubai Investments Company launched its real estate and tourism project DANA BAY in the Emirate of Ras Al Khaimah. The project is located on Al Marjan Island, and will include a beach resort, apartments and beach villas, as well as residential buildings, shops, restaurants and cafes. The value of the project is about one billion dirhams, and it is in line with Dubai Investments' drive to enhance its real estate portfolio by adding more hospitality projects.
