Dubai Financial Market-listed Dubai Investments – whose subsidiaries include firms in the real estate, building materials, construction and contracting, as well as district cooling, among others – has revealed a 1% rise in its full-year net profit to $179m (AED657.6m) in 2019, compared to $177.33m (AED651.4m) in 2018.
The profit from 2018 includes one-off gains worth $90.7m (AED333m) from M&A transactions held the previous year, which means that the profit for 2019 is significantly higher if these one-off gains from 2018 are excluded.
In a stock market missive, the company shared that its earnings per share increased
Dubai Investments’ total assets were valued at $5.7bn (AED20.88bn) in 2019, up 7% from $5.3bn (AED19.55bn) in 2018, while total shareholder equity increased to $3.26bn (AED11.976bn) in 2019, compared to $3.243bn (AED11.915bn) during the same reporting period in the previous year.
The company’s revenue in 2019 rose to approximately $770.45m (AED2.83bn) and its net operating profit rose to approximately $323.42m (AED1.188bn).
Dubai Investments also announced recently that Janayen Avenue, its ready to move in cluster within the first freehold gated community in Mirdif Hills has welcomed its new residents and is steadily attracting more investments into the community.
Located adjacent to Mushrif Park, and in close proximity to the Dubai International Airport, business districts, and shopping malls, Mirdif Hills is a 371,612m2 mixed-used development in Mirdif, which is run by Dubai Investments through its subsidiary Dubai Investments Real Estate Company (DIRC).