Dubai Investments: AED 1.3 Billion Profit - 21% Growth from Last Year

Dubai Investments PJSC, a leading diversified investment firm listed on the Dubai Financial Market (DFM), has recorded a net profit before tax of AED 1.3 billion for the fiscal year ending December 31, 2024. This marks a 21% rise compared to AED 1.07 billion in the previous year, reflecting the company’s strong financial momentum.

Robust Revenue Growth Driven by Property Sales

The Group’s total income surged to AED 4.66 billion, fuelled by increased property sales amounting to AED 1.03 billion. The success of its real estate ventures, particularly the Danah Bay project on Al Marjan Island in Ras Al Khaimah, contributed significantly to this growth. Additionally, higher rental earnings from Dubai Investments Park (DIP) and the strategic acquisition of new assets under Al Mal Capital REIT further strengthened revenue streams.

Asset Expansion and Financial Stability

Dubai Investments’ total assets reached AED 22.10 billion by the end of 2024, rising from AED 21.44 billion in the previous year. The Group’s equity attributable to owners stood at AED 14.11 billion, with a net debt-to-equity ratio of 21.9%. These figures underscore the Group’s strong financial stability and ability to sustain liquidity across economic cycles.

Enhancing Shareholder Value with Dividends

Reaffirming its commitment to shareholder returns, the Board of Directors has proposed an 18% cash dividend (AED 0.18 per share) for 2024. This move highlights Dubai Investments’ focus on maintaining financial strength while ensuring consistent and rewarding shareholder benefits.

Commenting on the full-year results, Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments, said: “Dubai Investments’ strong financial performance in 2024 has laid a robust foundation for sustained expansion and long-term growth. Dubai Investments remains focused on accelerating growth by actively evaluating investment opportunities across MENA and other regions, exploring strategic divestments, and assessing select Group companies for potential IPOs. These initiatives align with the Group’s vision to enhance market presence, maximize shareholder value, and drive sustainable growth in the years ahead.”

Ongoing Real Estate Projects and Growth Outlook

The Group is gearing up to launch multiple mixed-use real estate developments across the UAE while maintaining a strategic focus on timely project execution. Dubai Investments remains optimistic about the real estate sector’s prospects, with the Violet Tower project progressing as planned. Supported by strong off-plan sales, the project is expected to be completed by Q4 2026.

A key area of focus is the continued expansion of the Al Mal Capital REIT portfolio, reinforcing its role as a reliable generator of stable cash dividends. This aligns with Dubai Investments’ long-term strategy of strengthening its investment portfolio across high-yield sectors.

Diversification into High-Growth Sectors

Beyond real estate, Dubai Investments is actively expanding its footprint in healthcare, education, financial services, artificial intelligence, and business services. By fostering growth in these critical sectors, the Group aims to contribute to economic development and enhance its role as a driver of impactful investments.

The Group remains committed to optimizing its portfolio by reassessing non-core assets and streamlining investments. This disciplined approach ensures agility in responding to market changes while reinforcing Dubai Investments’ position as a key player in sustainable growth.

Strategic Vision for the Future

With a clear focus on market adaptability and long-term value creation, Dubai Investments is well-positioned to navigate shifting economic landscapes. By leveraging its strengths, the Group aims to maintain its competitive edge and drive sustained growth in the years ahead.