[ad_1]
The Waha Land subsidiary, which owns and manages light industrial real estate developments in Abu Dhabi, also had a successful first half compared to the previous year. It generated a net profit of AED20 million in the same period in 2021, compared to AED17 million in the same period in 2021. Currently, 95% of the properties in this portfolio are leased.
Despite heightened volatility in global capital markets, Wahaha actively manages public market funds with a more defensive stance, allowing it to surpass their respective benchmarks in 2022. In the first half, the Wahaha MENA Equity Fund returned 7.8 percent in total, compared with 0.4 percent for the benchmark S&P Pan-Arab Composite. In addition, the Waha CEEMEA Credit Fund returned -5.8%, beating the -26.4% return of the benchmark JPMorgan Chase CEEMEA CEMB index amid turbulent global fixed income markets.
So, building on last year’s success, Wahaha is now well-positioned to provide its shareholders with long-term, sustainable wealth. As macroeconomic uncertainty is expected to persist, the diversification of Waha Capital’s public and private portfolios is likely to provide strength and stability to investors and shareholders.
The company has a solid financial position and continues to attract third-party capital for its funds, increasing assets under management by AED 500 million. In the second half of 2022, Wahaha aims to ensure that private equity and referendum businesses continue to accelerate the company’s growth.
The company’s 12-month dividend yield is 5.68%.
[ad_2]
Source link