Dubai Investments posts 20% drop in Q3 profits

02 Nov 2010

(MENAFN) UAE conglomerate Dubai Investments earned a net profit of $58.17 million in the third quarter of 2010, compared to $72 billion in the same period of 2009, registering a 19.8 percent decline, Gulf News Daily reported.

As for the second quarter of 2010, the conglomerate generated $53 million as net profit, compared to $78 million in the same period in the previous year.

Contract revenue also dropped 18.6 percent down to $47 million while rental income fell by 15.9 percent.

Dubai Investment launched its first residential project, Ritaj, in 2006, and competes with developers Emaar Properties and Deyaar.

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more