Dubai Investments reports AED 474 million profit for 2010 H1

29/07/2010 - Dubai Investment News
Dubai Investments reports AED 474 million profit for 2010 H1

Posted by Neil King

Dubai Investments (DI), the largest investment company listed on the Dubai Financial Market, has reported an AED 474 million net profit for the six-month period ended June 30th, 2010.

In its financial statement for the first half of the year, the company also recorded total income of AED 1.67 billion.

"The company is well capitalised with equity of AED 8.87 billion over an asset base of AED 13.91 billion with leverage ratio at less than 25 per cent. It is because of this low leveraged structure that DI has been able to maintain its strong market position and achieve consistent results even in these difficult times," said Khalid Bin Kalban, managing director at DI.

He added that the main drivers of DI's revenue are its industrial, real estate and financial investments and said that it is therefore encouraging to see signs of recovery in the regional economies.

As part of the continuing expansion of Dubai Investments Park, the largest integrated business and residential community in the Middle East, the development of area one and two of phase seven was completed during the period, while work on the remaining areas of phase seven and the entire phase eight is currently under progress.

Phase eight will spread across 500,000 sq m and serve as a hub for logistics services.ADNFCR-2019-ID-19913506-ADNFCR