Dubai Investments Company achieved a growth of 102% in its third quarter 2020 profits to reach 213 million dirhams, compared to 105 million dirhams in the same period last year.
According to the Emirates News Agency, the company recorded a net profit for the nine months ending on September 30, 2020, amounting to 418 million dirhams compared to 458 million dirhams for the same period last year .. As for the total revenues for the nine months, it amounted to 1.90 billion dirhams, while total assets increased to 21.5 billion dirhams by the end of the third quarter of 2020, compared to 20.6 billion dirhams during the same period last year.
Khalid bin Kalban, Vice Chairman and Chief Executive Officer of Dubai Investments, said that despite the difficult circumstances, Dubai Investments managed to achieve a strong performance during this quarter and started different Activities and businesses generally record a recovery, so we in the company are adapting to changing business conditions. Careful review, analysis and optimal utilization of resources, along with the company's growth strategy, are key factors to enhance the ability to overcome challenges in doing business.
He added that the upcoming launch of the Real Estate Investment Fund by Al Mal Capital, a subsidiary of Dubai Investments, is one example of this, and that all its units are expected to be listed in the Dubai Financial Market in January 2021, and in light of the current circumstances in which we live, investors continue to search for attractive and safe returns in the long run, so the decision to list Al Mal Capital REIT in the Dubai Financial Market will meet the various needs of investors and provide them with a highly liquid investment tool that allows them to enter the real estate sector. / p>
