Dubai, UAE: Dubai Investments PJSC, a top diversified investment firm on the Dubai Financial Market (DFM), announced a net profit of AED 241.31 million for Q3 2024, up from AED 236.54 million in the same quarter last year. For the nine months ending September 30, 2024, Dubai Investments reported a total net profit of AED 650.51 million.
Adjusted for fair valuation gains, net profit surged by 80% over nine months and by 78% in Q3. The Group’s assets reached AED 21.81 billion as of September 2024, with shareholder equity at AED 13.58 billion, a rise from December 2023.
Khalid Bin Kalban, Vice Chairman and CEO, stated, “This performance reflects our commitment to sustainable growth and diversification. Real estate sector momentum and enhanced portfolio performance contribute to our ongoing success. Dubai Investments remains focused on maximizing long-term shareholder value through strategic asset monetization and investment.”
Business Highlights:
- Strong off-plan sales for Violet Tower at Jumeirah Village Circle; construction expected to complete by Q4 2026.
- The Danah Bay project is progressing well, with villas set for Q1 2025, Beachfront Villas in Q3 2025, and the Residential Tower by Q4 2026.
- Al Mal Capital REIT now holds five income-generating assets, strengthening real estate contributions to the Group’s sustainable income.
Dubai Investments has also commenced construction on its DIP Angola project, expanding into Africa with a mixed-use economic zone that aligns with its vision of creating integrated, economically vibrant hubs.
This strategy emphasizes Dubai Investments’ dedication to building long-term shareholder value, further supported by risk diversification across UAE regions and sectors.
