Dubai: Dubai Investments announced a net profit of Dh119.96 million for the first quarter of 2024, compared to Dh314.44 million in Q1-2023.
Excluding the one-off gain on the fair valuation of investment properties in 2023, the Dubai Financial Market (DFM) listed investment company's profit for the same period in 2024 surged by 90 per cent.
Total income for the period was Dh791.88 million, compared to Dh1.01 billion for the same period last year, and total assets remained stable at Dh21.46 billion.
Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments, said, "The Group is pleased to have started the year with a robust set of Q1 results. These results demonstrate the upward trajectory and long-term growth drivers within the real estate market, which support Dubai's Investments strategic initiatives that focus on investing in growth opportunities."
The group anticipates that the positive momentum will continue throughout 2024, driven by robust growth in the real estate sector.
