Dubai Investments posts 21% rise in 2024 profit
The group will launch several mixed-use real estate projects in the UAE while remaining focused on the timely execution of projects in hand
DFM-listed Dubai Investments has reported announced a net profit before tax attributable to shareholders of Dhs 1.3bn for the fiscal year ending December 31, 2024, compared to Dhs 1.07bn during the same period last year, marking a 21 per cent increase.
The group’s total income grew to Dhs 4.66bn, mainly driven by the sale of properties amounting to Dhs1.03bn due to strong demand for real estate projects and efficient execution of the Danah Bay project on Al Marjan Island in Ras Al Khaimah and higher rental income due to occupancy levels maintained in DIP and acquisition of additional assets in Al Mal Capital REIT.
Dubai Investments’ total assets grew to Dhs22.10bn by the end of 2024, up from Dhs21.44bn in 2023. The group’s equity attributable to owners stood at Dhs14.11bn.
With a net debt to total attributable equity ratio of 21.9 per cent, the group continues to maintain strong liquidity levels, underscoring the group’s robust financial position and resilience across economic cycles.
In line with its commitment to delivering value to shareholders, the board of directors has proposed a cash dividend of 18 per cent (Dhs 0.18 per share) for the year 2024, reinforcing Dubai Investments’ focus on enhancing shareholder returns while maintaining a strong financial position and sustainable growth trajectory.
Commenting on the full-year results, Khalid Bin Kalban, vice chairman and CEO of Dubai Investments, said: “Dubai Investments’ strong financial performance in 2024 has laid a robust foundation for sustained expansion and long-term growth. Dubai Investments remains focused on accelerating growth by actively evaluating investment opportunities across MENA and other regions, exploring strategic divestments, and assessing select group companies for potential IPOs. These initiatives align with the group’s vision to enhance market presence, maximise shareholder value, and drive sustainable growth in the years ahead.”
Dubai Investments: Future outlook
The group will launch several mixed-use real estate projects in the UAE whilst remaining focused on the timely execution of projects in hand. The group anticipates strong growth and remains optimistic about the real estate sector.
The construction of the group’s Violet Tower project is progressing steadily, supported by healthy off-plan sales and remaining on track for completion by Q4 2026.
A key priority is the continued expansion of the Al Mal Capital REIT portfolio, reinforcing its role as a reliable source of stable cash dividends.
With a long-term vision for impact-driven investments, Dubai Investments is strengthening its footprint in the healthcare, education, financial services, artificial intelligence, and business services sectors.
The group remains committed to nurturing and scaling investments in these essential industries, reinforcing its role in supporting community development and regional economic progress.
A disciplined approach to portfolio optimisation remains a priority. The group continues to monitor and reassess non-core assets to strengthen its market presence and drive sustainable growth in the years ahead.
