Dubai: Mohammad Abdullah Al Gergawi, Chairman of Dubai Holding announced on Saturday the financial results of its business group, Dubai Holding Commercial Operations Group (“DHCOG”), for the first half of this year ending June 30, 2015.
According to a statement from Dubai Holding, DHCOG continued to see good operational progress with all businesses performing well and contributing to the Group’s profitability. Net profit increased to around Dh2.6 billion up 24 per cent from Dh2.1 billion in the equivalent period last year, and it is expected to exceed Dh5.5 billion for the financial year 2015.
DHCOG consists of four operating units, which include Jumeirah Group, TECOM Investments, Dubai Properties Group, and Emirates International Telecommunications (EIT), manages telecom assets such as du and Axiom.
Ahmad Bin Byat, vice-chairman and managing director of Dubai Holding, said: “As Dubai gears up to become the most productive and innovative hub in the world, we have embarked on several initiatives to continue to develop strategic sectors vital to Dubai’s economy. Dubai Holding will continue to reinforce its successful strategy of investing in innovation, knowledge, technology, content and business clusters to support Dubai’s efforts in setting up advanced infrastructure, which in turn will attract top global talent.”
