Dubai, UAE, November 14, 2024: Dubai Investments PJSC, a diversified investment company listed on the Dubai Financial Market (DFM), reported a net profit after tax of AED 241.31 million for Q3 2024, an increase from AED 236.54 million in the same period of 2023. Additionally, the Group achieved a net profit of AED 650.51 million for the nine months ending September 30, 2024, representing an impressive 80% rise for the nine-month period and a 78% increase for Q3 compared to adjusted figures excluding one-off fair valuation gains on investment properties.
The Group’s total assets have grown to AED 21.81 billion as of September 30, 2024, up from AED 21.44 billion on December 31, 2023, while equity attributable to shareholders rose to AED 13.58 billion, compared to AED 13.46 billion at year-end 2023.
Khalid Bin Kalban, Vice Chairman and CEO, stated: “Dubai Investments’ robust financial performance highlights our strategic focus on sustainable growth and prudent portfolio diversification. These results underscore the enduring strength and adaptability of our core business operations. Supported by favorable conditions in the real estate sector and a positive trajectory in our investment portfolio, Dubai Investments remains committed to generating long-term shareholder value by monetizing real estate assets and seizing emerging opportunities through forward-looking strategies.”
Key Developments in Real Estate and Business:
- Violet Tower at Jumeirah Village Circle has seen high demand in off-plan sales, with construction on track for completion by Q4 2026.
- Danah Bay project is progressing well, with villas expected in Q1 2025, followed by Beachfront Villas in Q3 2025 and the Residential Tower by Q4 2026.
- Geographical Expansion: DIP Angola, the company’s first mixed-use economic zone in Africa, marks a significant step in Dubai Investments’ international expansion, showcasing the Group’s vision to establish integrated hubs that drive economic and social growth.
Dubai Investments’ ongoing diversification across emirates and market segments reaffirms its commitment to risk management and portfolio resilience, setting a foundation for sustained value creation.
