Dubai Investments Navigates Financial Landscape: 9-Month Profit Slips to Dh817m, Sustains Resilience Amidst Strategic Shifts

Dubai, UAE – Dubai Investments reports a net profit of Dh817 million for the first nine months of this year, showing a decline from Dh1.49 billion in the same period last year.

The drop results from the absence of a one-off gain from the 50% stake sale in the district cooling firm Emicool, which significantly boosted numbers in the previous year.

Strategic Financial Shifts

The company emphasizes that last year’s figures included a substantial one-time gain of Dh980.42 million from the stake sale, marking a unique financial event.

Despite the drop in net profit and revenues, which stood at Dh3 billion compared to Dh3.27 billion, Dubai Investments remains optimistic about its financial performance.

Khalid Bin Kalban, Vice-Chairman and CEO, Affirms Resilience

Khalid Bin Kalban, Vice-Chairman and CEO, highlighted the enduring resilience of Dubai Investments’ business model.

He mentioned that the property and investment segments have been consistent performers, contributing to the third-quarter results.

The ongoing Danah Bay development in Al Marjan Island, Ras Al Khaimah, particularly the imminent launch of a residential tower, underscores the positive momentum.

Dubai Investments’ Outlook and Expansion Commitments

Bin Kalban expressed confidence in sustaining momentum throughout the year and reiterated the commitment to expanding successful ventures into new territories.

He stated, “Dubai Investments is not only committed to expanding the Group’s successful business ventures into new geographic frontiers but is also constantly exploring other opportunities.”

Financial Highlights

The holding company, owner of Dubai Investments Park, concluded September with total assets valued at Dh21.08 billion, showcasing the resilience and stability inherent in the company’s diversified portfolio.