By: Mahmoud Gamal
Dubai – Mubasher: Dubai Investments continued to strengthen its business in the real estate sector, reporting a 97.7% year-on-year rise in its revenues in the first quarter of 2017.
Revenues rose to AED 410.97 million in Q1-17, compared to AED 207.83 million in Q1-16.
Dubai Investments is focusing on developing real estate projects so as to sell and lease residential units of such developments, with property investments accounting for 62% of the company’s total assets worth AED 16.1 billion.
Investments in bonds and stocks rose 135% to AED 5.8 million in Q1-17, compared to AED 2.47 million in Q1-16.
Revenues generated from manufacturing and contracting fell 44.4% to AED 280.47 million in Q1-17 compared to AED 504.39 million in the prior-year period.
The company’s profits declined to AED 275.5 million in Q1-17, compared to AED 291.61 million, weighed down by lower manufacturing revenues.
