According to Arab Net, the company said in a statement. It recorded revenues of AED 642 million, as well as sales of AED 1.1 billion and delivered about 1.350 units in Dubai.
The loss is mainly due to a decrease rate of revenue, particularly with near the completion of several projects, and fell overall profit margins as a result of multiple income sources, high sales and increasing public administrative expenditures due to high sales recorded during the quarter.
As of March 31, 2021, the value of equity stabilized at 12.9 billion dirhams, while total assets amounted to AED 21.7 billion. The company also announced the arrival of total debt to AED 3.5 billion by the end of the first quarter.
"The market is gradually recovering from the repercussions of the Kovid-19 crisis and its effects on various sectors, especially sectors of tourism and travel.
He added an integral confirmation that the full recovery stage will take between 10 to 12 months at the lowest.
