UAE’s Mazaya net profit hits USD in 9M

23 Oct 2014

(MENAFN) Al Mazaya Holding Company announced that it recorded a net profit of USD20 million in the January-September period of this year, compared to USD 2.920 million recorded during the corresponding period in 2013, Gulf News reported.

The company also posted an increase in revenues by 36.2 percent, which amounted to USD13.71 million during the cited period, compared to USD10.07 million registered in the same period last year, while Mazaya’s total assets reached USD 816.60 million, compared to USD762.16 million during the same period in 2013.

The company attributed this growth to its focus on operational activities which led to the company increasing its occupancy rate in its more profitable projects.

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