First Dubai plans to make a move on Shams Abu Dhabi

Dubai: The Al Mazaya Holding Co subsidiary, First Dubai, recorded a net profit of Dh8.1 million for the first three months, while operational revenues were Dh17.3 million against Dh9.2 million a year ago. The numbers were helped by the delivery and sale of units, including at “The Villa” project in Dubailand, and increased occupancy rates at the “Sky Gardens” in Dubai International Financial Centre. It is now looking at the possibility of launching development works at its plots in Shams Abu Dhabi on Al Reem Island. This could be done in conjunction with other investors.