Dubai Investments has reported a positive change in its financial performance for Q3-2024, with a profit of Dh235.6 million for the period from July to September, up from Dh209 million in the same quarter last year. However, the company’s profits for the first nine months have decreased, dropping to Dh637 million from Dh759.6 million in 2023.
The company’s varied portfolio, especially in real estate and industrial parks, has been a significant factor in its growth. Dubai Investments continues to develop its flagship Dubai Investments Park (DIP), which serves as a major center for substantial investment deals. Additionally, the group is making strides on its luxury resort project in Ras Al Khaimah, along with other prominent real estate initiatives that draw considerable investment from stakeholders.
In a noteworthy development, Abu Dhabi’s Aldar Properties has made its first logistics real estate investment in Dubai, situated within DIP. This move underscores the ongoing attractiveness of Dubai’s real estate market, as both local and regional investors recognize the value in the city’s industrial and commercial sectors.
Khalid Bin Kalban, Vice-Chairman and CEO of Dubai Investments, shared his optimism regarding the company’s growth path. “The Group is encouraged by the dynamic momentum in the real estate sector, complemented by the improved performance of its investment portfolio. Dubai Investments will continue to monetize its real estate assets as part of the Group’s strategic objectives,” he stated.
As the company looks ahead, real estate remains a primary focus for Dubai Investments, with plans to capitalize on its property holdings and further strengthen its market position. Despite a drop in year-to-date profits, the strong performance in Q3 suggests a solid recovery trajectory, setting the stage for continued growth in the upcoming quarters.
