(MENAFN) Manazel Real Estate, a pioneering UAE developer proclaimed that it has won approval at the annual general meeting in order to collect 5 percent cash dividends to the investors.
Furthermore, the developer had received a strong performance for last year as net profit increased by 5.6 percent to USD56.2mn from USD53mn in 2015.
Additionally, whole consolidated revenue for last year was more than Dh749mn compared to Dh740mn in 2015, driven by the success achieved in Al-Reef 2.
Accordingly, the firm delivered strong financial performance last year, which was driven by its business plan to make extra revenue streams and growing cost efficiencies.
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