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FINANCIAL NEWS
Dubai- DIFC Investments posts USD130.5m profit for 2011
03 May 2012
(MENAFN) DIFC Investments’ Chairman, Abdulla Mohammed Saleh, stated that the firm recorded a USD130.5 million net profit for 2011, compared with a net loss of USD272 million in 2010, reported Emirates 24/7.
Saleh added that total rental income from investment properties reached USD128 million, whereas rental income in the period rose by 1.8 percent from a year earlier,
He also said that profit generated from continuing operations reached USD185.4 million, compared with a loss of USD286 million in the previous year.
It is worth noting that DIFC, the investment arm of the firm running Dubai’s financial free zone, is close to a bank agreement to refinance its USD1.25 billion sukuk.
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