Dubai Investments PJSC has announced a remarkable 21% increase in its net profit before tax attributable to shareholders for the fiscal year ending December 31, 2024. The company’s net profit surged to AED 1.3 billion ($354 million), compared to AED 1.07 billion in the same period last year, reflecting the group’s strong financial performance and strategic growth initiatives.
Solid Financial Performance Driven by Real Estate and Strategic Investments
The group’s total income for 2024 rose to AED 4.66 billion, with a significant contribution from the sale of properties totaling AED 1.03 billion. This growth was driven by strong demand in the real estate sector and the successful execution of major projects, including the Danah Bay project on Al Marjan Island in Ras Al Khaimah. The company also benefited from higher rental income, supported by strong occupancy levels in Dubai Investments Park (DIP) and the acquisition of additional assets through Al Mal Capital REIT. These factors combined to bolster the company’s overall revenue growth.
Strong Balance Sheet and Healthy Liquidity
Dubai Investments’ balance sheet showed solid growth, with total assets increasing to AED 22.10 billion by the end of 2024, up from AED 21.44 billion in 2023. The group’s equity attributable to owners reached AED 14.11 billion, reinforcing the company’s financial strength. Notably, the company maintained a low net debt to total attributable equity ratio of 21.9%, highlighting its prudent financial management and strong liquidity position.
“The group continues to maintain strong liquidity levels, underscoring its robust financial position and resilience across economic cycles,” Dubai Investments stated in its official report. This strong liquidity ensures the company’s ability to weather economic fluctuations while continuing to invest in growth opportunities.
Cash Dividend Proposal Reflecting Strong Shareholder Returns
In recognition of its strong performance, Dubai Investments’ board of directors has proposed a cash dividend of 18% (AED 0.18 per share) for the year 2024. This proposal reflects the company’s commitment to delivering value to its shareholders while ensuring sustainable growth and maintaining a robust financial position.
Focus on Growth and Long-Term Value
Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments, commented on the company’s achievements, stating: “Dubai Investments’ strong financial performance in 2024 has laid a robust foundation for sustained expansion and long-term growth.” He emphasized that the company remains committed to accelerating growth through active evaluation of investment opportunities across the MENA region and beyond. This includes exploring strategic divestments and assessing select group companies for potential IPOs, aligning with Dubai Investments’ vision to enhance its market presence, maximize shareholder value, and drive sustainable growth in the years ahead.
Strategic Expansion and Future Prospects
Looking forward, Dubai Investments is poised to continue its strategic expansion, driven by a diversified portfolio of assets and an unwavering focus on innovation and sustainability. With its strong financial results, the company is well-positioned to pursue new opportunities in high-growth sectors while strengthening its position in the global market.
In conclusion, Dubai Investments’ impressive 21% growth in net profit, coupled with its solid asset base and commitment to shareholder returns, positions the company for continued success in 2025 and beyond. The company’s focus on strategic growth, prudent financial management, and long-term value creation continues to set the stage for sustained prosperity in the years to come.
