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FINANCIAL NEWS
UAE-Manazel posts 5.6pct in revenue
15 Feb 2017
(MENAFN) Manazel Real Estate, a pioneering UAE developer announced that its net profit increased 5.6 percent to USD56mn from Dh195mn the previous year.
Accordingly, the developer said it received higher consolidated profits for the period at Dh749mn compared to Dh740mn in 2015.
Meanwhile, diversity in the firm’s projects, the support of subsidiaries’ profits and commercial and residential properties, have all contributed to income stability.
In addition, Manzel Real Estate delivered a strong performance for 2016, driven by its business plan to spread its income resources.
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MENAFN1502201700450000ID1095249520
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