Land Bank Sale, Divestments Boost Amlak's 2025 Profit To Dh1.47 Billion

2026-03-09 04:19:33

(MENAFN- Khaleej Times) Real estate financier Amlak Finance reported a net profit after income tax of Dh1.47 billion in 2025, compared to Dh12 million in 2024. Total income for the financial year 2025 surged to Dh3.12 billion, compared to Dh233 million the year prior. For the first time in 15 years, Amlak fully offset its accumulated losses and reported retained earnings at year-end due to its strong financial performance.

The sale of Ras Al Khor land bank, completed in July 2025, generated substantial growth with total proceeds of Dh2.9 billion, which resulted in a gain of Dh2.14 billion during the year. Its operating costs for 2025 decreased by 9 per cent to Dh92 million, compared to Dh101 million in the same period the previous year.

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Arif Albastaki, the CEO of Amlak, said that the company strengthened its capital structure by settling obligations with key financier and exiting the Common Terms Agreement, which it signed in 2014 and has allowed it to settle all dues with financiers ahead of the October 2026 deadline.

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In 2025, it fully settled its financial obligations with six remaining financiers, paying a total of Dh989 million including profit, with all pledges, securities, and mortgages released as a result.

Outside of the UAE, Amlak's investment in Egypt generated income of Dh2 million prior to divestment. On 23 October 2025, it signed the Sale and Purchase Agreement for its Egyptian subsidiary, which resulted in a gain of Dh9 million during 2025.

The real estate financier also fully divested its investments in an associate in Saudi Arabia during the third quarter of 2025.

“2025 was a definitive year for Amlak, as disciplined execution and strong governance translated into considerable advances in our performance and financial strength,” Jamal Hamed Almarri, chairman of the board of directors at the company, said.“Looking ahead, we remain focused on sustainable, long-term value creation and contributing to the continued advancement of the UAE's real estate sector and its economic landscape.”

The financial company is listed on the Dubai Financial Market and is licensed by the UAE Central Bank. It was incorporated in Dubai in the year 2000 as a private shareholding company, and turned public in 2004. In 2007, it obtained a license from the Real Estate Regulatory Authority to start Escrow Management service operations