Dubai Holding Commercial Operations profit jumps 25 per cent in 2015

Dubai Holding unit said said growth was supported by TECOM and Jumeirah

Dubai Holding Commercial Operations Group, a business unit of Dubai Holding, announced a 25 per cent increase in net profit on Saturday to Dhs 5.83bn.

The group said it was targeting an annual profit of Dhs 10bn in four years.

The company’s revenue was up 15 per cent to Dhs 14.53bn compared to Dhs 12.63 billion a year ago.

This growth was supported by the strong performance of business units including TECOM, Jumeirah and Dubai Properties, according to the group.

TECOM saw an 11 per cent increase in registered companies at its business parks last year reaching more than 5,100.

Dubai Properties launched three new real estate projects and handed over more than 800 residential units, according to Dubai Holding. It also saw 98 per cent occupancy across its 15,000-unit leasing portfolio.

“Dubai Holding continues to make big strides in its successful strategy aimed at creating an innovation driven knowledge-based economy. This is in line with Dubai’s long-term ambition to transform into the smartest and most productive city in the world,” said chairman Mohammad Abdulla Al Gergawi.