Dubai Investments Reports AED 1.3B Net Profit Before Tax in 2024, Up 21%

Ummulkiram Pardawala -

Dubai Investments PJSC, a leading diversified investment company listed on the Dubai Financial Market (DFM), reported a net profit before tax of AED 1.3 billion for the fiscal year ending December 31, 2024, marking a 21% increase from AED 1.07 billion in 2023. The company’s total income rose to AED 4.66 billion, driven by robust performance across its real estate and investment segments.

Key Financial Highlights:

Rental income reached AED 1.05 billion, accounting for 22.6% of total income, supported by high occupancy rates at Dubai Investments Park (DIP) and asset acquisitions by Al Mal Capital REIT.

  • Property sales totaled AED 1.03 billion, reflecting an increase of AED 201.8 million, fueled by demand for real estate projects, including the Danah Bay project on Al Marjan Island, Ras Al Khaimah.
  • Total assets grew to AED 22.10 billion, up from AED 21.44 billion in 2023.
  • Equity attributable to owners stood at AED 14.11 billion, with a net debt-to-equity ratio of 21.9%, reinforcing financial stability.
  • Dividend Proposal: The Board of Directors has recommended a cash dividend of 18% (AED 0.18 per share) for 2024, underscoring the Group’s commitment to shareholder value.

Growth Strategy & Future Outlook:

Vice Chairman and CEO Khalid Bin Kalban highlighted that Dubai Investments remains focused on expansion, with strategic initiatives including:

  • Evaluating investment opportunities across MENA and other regions to maximize growth.
  • Exploring divestments and IPO opportunities for select Group companies.
  • Advancing real estate projects, including the Violet Tower, set for completion by Q4 2026.
  • Expanding Al Mal Capital REIT’s portfolio, ensuring stable cash dividends.
  • Strengthening investments in healthcare, education, financial services, AI, and business services to drive long-term impact.
  • Optimizing its investment portfolio by reassessing non-core assets to enhance efficiency.

With a disciplined and forward-looking approach, Dubai Investments remains well-positioned to navigate market dynamics, strengthen its competitive edge, and drive sustainable value creation in the years ahead.

News Source: Publicis Groupe