UAE-based alternative investments company, Dubai Investments (DINV), just announced its earnings and it looks like a good barometer for anyone wanting to get a gauge on the property market.
The company has a portfolio of $6b across 23 sectors, but it looks like real estate is the firm’s prized puppy. Its Q3 earnings showed the firm as having recorded $124m in net profits for the 9-months ending September, a 9% year-on-year increase. The company’s total income increased to $708m, posting a 37% YoY rise. Despite the good news, the company’s stock dropped by 4.8% yesterday — tough crowd to impress!
why it matters
The firm’s CEO mentioned that due to a recent resurgence in consumer demand, it’ll be increasingly focused on the real estate sector, with a recent deal alongside Ras Al Khaimah’s master developer, Marjan, to develop a $273m mixed-use residential development.