Amlak Finance board to meet on May 31

Dubai: Amlak Finance said on Sunday its board will meet on May 31 to discuss normal business activities.

Net profit of Amlak, in which Emaar Properties has a large stake, was at Dh123 million in the first quarter of 2016. The company’s revenue reached Dh363 million in March quarter compared to Dh104 million in the first quarter of 2015.

The strong revenue performance was driven by income generated from the real estate investment business as the company registered Dh134 million from the partial sale of land projects.