Dubai Investments Reports 21% Profit Surge in 2024

Dubai Investments PJSC, a leading diversified investment company listed on the Dubai Financial Market, has announced an impressive financial performance for the fiscal year ending December 31, 2024. The company achieved a net profit before tax of AED 1.3 billion, marking a significant 21% increase compared to the previous year.

This remarkable growth was fueled by a total income of AED 4.66 billion, primarily driven by the strong performance of the real estate and investment segments. The company's real estate projects, including the efficient execution of the Danah Bay project on Al Marjan Island in Ras Al Khaimah, contributed to property sales of AED 1.03 billion, reflecting an increase of AED 201.8 million over the prior year.

Rental income also saw a substantial rise, reaching AED 1.05 billion, which accounted for 22.6% of the total income. This growth was supported by sustained high occupancy levels at Dubai Investments Park and the acquisition of new assets by Al Mal Capital REIT.

Dubai Investments' total assets grew to AED 22.10 billion by the end of 2024, up from AED 21.44 billion in 2023, underscoring the company's robust financial position. With a net debt to total attributable equity ratio of 21.9%, the company maintains strong liquidity levels, demonstrating resilience across economic cycles.

In line with its commitment to delivering value to shareholders, the Board of Directors has proposed a cash dividend of 18% (AED 0.18 per share) for the year 2024. This move reinforces Dubai Investments' focus on enhancing shareholder returns while maintaining a strong financial position and sustainable growth trajectory.

Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments, expressed optimism about the company's future, stating that the strong financial performance in 2024 has laid a robust foundation for sustained expansion and long-term growth. The company is actively evaluating investment opportunities across MENA and other regions, exploring strategic divestments, and assessing select Group companies for potential IPOs.

Given the company's solid financial performance, strategic initiatives, and commitment to shareholder value, investors may consider a buy position in Dubai Investments PJSC. The company's focus on expanding its market presence, maximizing shareholder value, and driving sustainable growth positions it well for future success.