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Thursday, November 14, 2024
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Dubai Investment’s profits soared 47% in the first half of the year – Dubai Blog

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Dubai Investment Corporation announced on Thursday that its net profit for the six months ended June 30, 2021 increased by 47% to 302 million dirhams, compared with 205 million dirhams in the same period last year.

The company said in a statement on Thursday that the increase in net profit during the period was mainly due to increased performance in the manufacturing, contracting and investment sectors.

As the Group increased sales in the real estate sector, total revenue during the period also increased by 51% to AED 1.72 billion, compared to AED 1.14 billion in the previous period.

The Group acquired an additional 21.53% equity interest in National General Insurance PJSC (NGI) during the reporting period. Subsequently, the Group further acquired a 15.19% stake in NGI, bringing the total shareholding to 45.18%.

Commenting on the financial results, Khalid bin Kalban, Vice Chairman and Chief Executive Officer of Dubai Investments said: “We are very pleased to see that our activities in the first half of the year have brought very promising overall growth. As we advance our plans for the second half of 2021, we expect to continue to capitalize on the momentum and success achieved so far.

“The key to this is our commitment to diversifying healthcare and education, as well as our focus on real estate, including the development of mixed-use communities in Mirdif Hills and Fujairah. We will continue to explore sustainable growth opportunities in the industries in which we operate, and look forward to Share the latest information when appropriate.”

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