Total income for 2024 reached AED4.66 billion, driven by strong performance across the real estate and the investment segment
Dubai Investments PJSC reported a net profit before tax attributable to shareholders of AED1.3 billion ($354 million) for the fiscal year ending December 31, 2024, compared to AED1.07 billion during the same period last year, marking a 21 percent increase.
The group’s total income grew to AED4.66 billion, mainly driven by the sale of properties amounting to AED1.03 billion due to strong demand for real estate projects and efficient execution of the Danah Bay project on Al Marjan Island in Ras Al Khaimah and higher rental income due to occupancy levels maintained in DIP and acquisition of additional assets in Al Mal Capital REIT, the company said.
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Meanwhile, total assets grew to AED22.10 billion by the end of 2024, up from AED21.44 billion in 2023. The group’s equity attributable to owners stood at AED14.11 billion. Net debt to total attributable equity ratio stood at 21.9 percent.
“The group continues to maintain strong liquidity levels, underscoring the robust financial position and resilience across economic cycles,” the company said in a statement.
Dividend proposal
The board of directors has proposed a cash dividend of 18 percent (AED0.18 per share) for the year 2024, reinforcing Dubai Investments’ focus on enhancing shareholder returns while maintaining a strong financial position and sustainable growth trajectory.
Commenting on the full-year results, Khalid Bin Kalban, vice-chairman and CEO of Dubai Investments, said: “Dubai Investments’ strong financial performance in 2024 has laid a robust foundation for sustained expansion and long-term growth. Dubai Investments remains focused on accelerating growth by actively evaluating investment opportunities across MENA and other regions, exploring strategic divestments, and assessing select group companies for potential IPOs. These initiatives align with the group’s vision to enhance market presence, maximize shareholder value, and drive sustainable growth in the years ahead.”
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New projects lined up
The group will launch several mixed-use real estate projects in the UAE whilst remaining focused on timely execution of projects in hand. The construction of the group’s Violet Tower project is progressing steadily, supported by healthy off-plan sales and remaining on track for completion by Q4 2026.
A key priority is the continued expansion of the Al Mal Capital REIT portfolio, reinforcing its role as a reliable source of stable cash dividends.
Focus on diversification
With a long-term vision for impact-driven investments, Dubai Investments is strengthening its footprint in the healthcare, education, financial services, artificial intelligence, and business services sectors. The group remains committed to nurturing and scaling investments in these essential industries, reinforcing its role in supporting community development and regional economic progress.
“A disciplined approach to portfolio optimization remains a priority. The group continues to monitor and reassess non-core assets, ensuring an agile and efficient investment strategy that strengthens market presence and drives sustainable growth in the years ahead,” the statement added.
