Dubai-Mubasher: Dubai Investments is expected to post a 10% profit growth year-on-year in 2016, according to the company’s CEO Khalid Bin Kalban.
The real estate sector is the most significant contributor to the company's profits, Bin Kalban said in an interview with CNBC Arabia, adding that the financial results were strong in the first half of 2016.
Oil price fluctuations have a more positive rather than negative impact as the company benefited from the decline in costs, yet some of its projects were delayed.
There are plans to establish two complexes near Dubai Investments Park in Saudi Arabia and Morocco, the CEO said, adding that 70% of the company’s investments exist in the UAE.
The Dubai-listed investment firm’s debt and cash on hand stood at AED 4.4 billion and AED 1.2 billion respectively, he noted.
The volume of Dubai Investments’ liquidity is nearly equal to its debt, which is a positive indicator, Bin Kalban said.
The company’s stock closed at AED 2.100, with turnover of AED 17.76 million generated from the exchange of 8.43 million shares.
