(MENAFN) Dubai Investments PJSC, a prominent company listed on the Dubai Financial Market, announced a net profit of AED 289 million for the second quarter of the year, marking an increase from AED 266 million during the same period last year. Despite this positive quarterly performance, the company’s net profits for the first half of the year totaled approximately AED 409 million, down from AED 580 million recorded in the same period the previous year. This decline reflects the exclusion of non-recurring gains from the fair valuation of investment properties, yet the company’s core profit margins showed notable improvements, with a 78 percent rise in the second quarter and an 83 percent increase for the first half of the year.

The company’s total assets have grown to AED 21.8 billion, up from AED 21.4 billion at the close of the previous year. Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments, attributed the group’s robust financial performance to the flourishing real estate sector and the impressive returns from its diversified investment portfolio. The ongoing success underscores the company's strategic focus on high-growth sectors and its ability to leverage favorable market conditions.

Looking ahead, Dubai Investments anticipates significant advancements in its construction projects, particularly the first phase of the “Dana Bay” project in Ras Al Khaimah, which is expected to make substantial progress by year-end. Additionally, the company has launched the “Violet Tower” project in Jumeirah Village Circle (JVC), a new residential development, and has commenced off-plan sales for this project, further expanding its real estate footprint and investment opportunities. 

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