Dubai: Dubai Investments, a leading investment group listed on the Dubai Financial Market (DFM), has reported a 21% increase in net profit before tax attributable to shareholders for the fiscal year ending December 31, 2024. The company posted a profit of Dhs 1.3 billion, up from Dhs 1.07 billion in the previous year, driven by strong real estate sales and asset acquisitions.
Key Financial Highlights:
- Total income: Dhs 4.66 billion, boosted by property sales worth Dhs 1.03 billion.
- Total assets: Dhs 22.10 billion, up from Dhs 21.44 billion in 2023.
- Equity attributable to owners: Dhs 14.11 billion.
- Net debt to total attributable equity ratio: 21.9%, maintaining strong liquidity.
- Dividend proposal: 18% cash dividend (Dhs 0.18 per share).
The group's robust financial results were fueled by high demand for real estate projects, particularly the Danah Bay project on Al Marjan Island in Ras Al Khaimah, as well as higher rental income from Dubai Investments Park (DIP) and strategic asset acquisitions under the Al Mal Capital REIT.
Strategic Growth and Expansion Plans
Dubai Investments is gearing up for several new mixed-use real estate developments in the UAE, while focusing on the timely completion of ongoing projects. One of the key projects, Violet Tower, is progressing well, supported by strong off-plan sales and is set for completion by Q4 2026.
Beyond real estate, the group is actively evaluating investment opportunities across the MENA region and beyond, exploring strategic divestments and considering potential IPOs for select subsidiaries.
Vice Chairman and CEO Khalid Bin Kalban highlighted the company’s commitment to long-term growth, stating:
"Dubai Investments’ strong financial performance in 2024 has laid a solid foundation for sustained expansion. Our focus remains on accelerating growth through strategic investments, maximizing shareholder value, and reinforcing our market presence in key sectors.”
Future Outlook: Diversification and Sustainable Growth
Dubai Investments is diversifying its portfolio by expanding its presence in healthcare, education, financial services, artificial intelligence, and business services. These sectors are expected to play a crucial role in the company’s long-term impact-driven investment strategy.
A key focus remains on the Al Mal Capital REIT, strengthening its position as a stable income-generating asset. The group also continues to reassess non-core assets to optimize its portfolio, ensuring sustained profitability and market leadership.
With a disciplined investment approach, Dubai Investments aims to enhance its contributions to regional economic growth while maintaining its financial strength and resilience.
