Dubai Investments reports net profit of AED724 million

DUBAI, 1st November, 2018 (WAM) -- Dubai Investments has reported net profit of AED724 million for the nine month period ending 30th September, 2018, compared to AED830 million for the same period last year. Total assets grew to AED19.44 billion and total income during the period increased to AED2.42 billion from AED2.03 billion for the same period last year. The annualised return on equity for the period was 7.88 percent. Commenting on the net profit results, Khalid bin Kalban, Managing Director and CEO of Dubai Investments, said, "The results from the first nine months of 2018 demonstrates the resilience and strength of our diversified business model which has kept us in good stead through the various economic cycles. We have strengthened our asset base with the 50 percent acquisition of Emicool and aim to further it with both organic and inorganic growth. "We are moving ahead with our planned strategies of monetising our real estate assets and project developments which are well on target. We have already made substantial investments in the education and healthcare sectors, with several other opportunities in various stages of assessment and evaluation," he added.