Please register to access this content.
To continue viewing the content you love, please sign in or create a new account
Dismiss
This content is for our paying subscribers only

Business Markets

Dubai Investments net profit up 47% to Dh302m in H1-21, helped by manufacturing, contracting

Dubai Investments is also now biggest shareholder in Dubai insurer NGI



Dubai Investments will be hoping that it can build on the profit growth during the second-half of this year.
Image Credit: Supplied

Dubai: The holding company for industrial parks and related businesses, Dubai Investments has seen its net profit shoot up 47 per cent to Dh302 million in the first-half of this year. The results attest to a general improvement in listed companies coming out with solid performances during the year.

Income for the first-half was Dh1.72 billion, again a sharp improvement on the Dh1.13 billion delivered last year.

“As we move forward with our plans for the latter-half of 2021, we expect to continue building on the momentum and successes achieved so far,” said Khalid Bin Kalban, Vice Chairman and CEO. “Key amongst these is our commitment to diversifying into healthcare and education, as well as focus on real estate, including the ongoing development of mixed-use communities in Mirdif Hills and Fujairah.”

read more

And yet, Dubai Investments surprised many by becoming the majority shareholder in National General Insurance, a Dubai-based insurer, from Emirates NBD Group. It now has 45.18 per cent in NGI – “We also continue to explore opportunities for sustainable growth across the sectors that we operate in and look forward to sharing updates on these in due course,” said Kalban.

Advertisement

The gains in net profit came from “enhanced performance” from manufacturing, contracting and investment activities.

Advertisement