Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Al Mazaya Holding posts 588% jump in net profits  Join our daily free Newsletter

MENAFN - Khaleej Times - 25/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Al mazaya holding company announced its financial results for the first quarter of the year 2014 confirming a net profit of dh19.

compared to the dh2.78 million recorded over the same period in 2013 the figure represents an increase by 588 per cent. dividends per share amounted to 3.08 fils per share compared to 0.44 fils in 2013.

ibrahim al saqabi the group ceo said that al mazaya holding company had achieved a quantum leap in its fiscal results during the first quarter of the year 2014 by virtue of the company’s focus on operational activities through increasing the occupancy rate in its income-generating projects which led to an increase in the rental revenues of the company by 36 per cent valued at dh15.6 million by the end of the first quarter of 2014 compared to dh11.2 million for the same period in 2013.

this included the sky gardens project in dubai international financial centre in which the occupancy rate reached up to 95 per cent and al mazaya towers at the heart of the kuwaiti capital with an occupancy rate ranging between 75 and 100 per cent in addition to its projects in a number of the region’s countries such as the ksa and dubai in which the occupancy rates of the company’s projects reached 100 per cent.

the company also succeeded in achieving an increase in its operational revenues resulting from managing others’ projects by 37 per cent with a value of dh4.6 million compared to dh3.4 million during the same period in 2013.

first dubai profit rises

first dubai a subsidiary of al mazaya holding company announced that the company’s total operational revenues stood at dh17.3 million at the end of the first quarter of 2014 compared to dh9.2 million for the same period in 2013.

abdul aziz al loughani the chairman of the board of directors of first dubai real estate development company said that first dubai managed to achieve a remarkable rise in its operational revenues of 88 per cent compared to the same period in 2013 by virtue of the focus on the operational revenues resulting from the sale of its real estate projects and rental of a number of income-generating projects.

revenues resulting from the available properties for sale reached to dh11.3 million with an increase of 162 per cent. revenues from the income-generating projects stood at dh6.1 million at the end of the first quarter of 2014 compared to dh4.9 million for the same period in 2013 a leap by 24 per cent thus achieving net profit valued at dh8.1 million and profitability of dh8.2 per share.

— business?khaleejtimes.com


 


Khaleej Times




  MENA News Headlines
 Nov 27 2014 - Ex-Ferrari boss Montezemolo appointed Alitalia chairmanSaudi Press Agency
(MENAFN - Saudi Press Agency) The former boss of Ferrari, Luca Cordero di Montezemolo,was on Wednesday appointed chairman of loss-making Italian airlineAlitalia, which is seeking a change of fortunes ...

 Nov 27 2014 - Saudi- On behalf of the Custodian of the Two Holy Mosques, Prince Abdullah bin Musaed patronizes the finals of Arab Gulf Soccer championship 22Saudi Press Agency
(MENAFN - Saudi Press Agency) On behalf of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud, Prince Abdullah bin Musaed bin Abdulaziz, General President of the General ...

 Nov 27 2014 - Saudi- Prince Abdullah bin Musaed Receives Sheikh Jasim bin Hamad, Prince Ali bin Al-HusseinSaudi Press Agency
(MENAFN - Saudi Press Agency) Prince Abdullah bin Musaed bin Abdulaziz, the General President of the Youth Welfare received, separately, here today Sheikh Jasim bin Hamad Al Thani, the Personal ...

 Nov 27 2014 - Obama to Meet Jordan King Abdullah Next WeekSaudi Press Agency
(MENAFN - Saudi Press Agency) President Barack Obama will hold talks at the White House next week with visiting King Abdullah II of Jordan, the White House announced Wednesday.The White House said ...

 Nov 27 2014 - Saudi- Outcome of King Abdullah initiative for dialogue reviewedSaudi Press Agency
(MENAFN - Saudi Press Agency) Faisal bin Abdulrahman bin Muammar, Advisor to the Custodian of the Two Holy Mosques, who is also Secretary General for King Abdullah International Center for Dialogue ...

 Nov 27 2014 - Saudi- Jubail and Yanbu Royal Commission receives ABET chiefSaudi Press Agency
(MENAFN - Saudi Press Agency) The Executive President of the Royal Commission for Yanbu and Jubail Eng. Hamid bin Khider Sebeh received in Yanbu today the ABET team for academic assessment, led by ...

 Nov 27 2014 - Saudi cultural attaché office holds Saudi student's daySaudi Press Agency
(MENAFN - Saudi Press Agency) Saudi cultural attaché office in Rabat held at the Legal and Economic Sciences Faculty in the Moroccan city of Sala today the Saudi student's day celebration party.In a ...

 Nov 27 2014 - Egypt- 90% of houses within 500 metres of Gaza border evacuated in Rafah: OfficialDaily News Egypt
(MENAFN - Daily News Egypt) "90% of the total number of houses within 500 metres of the [Gaza] border have been evacuated," head of the North Sinai Governorate Office, Brigadier General Mohamed Abdel ...

 Nov 27 2014 - Egypt- Students Against the Coup threatens more road blocksDaily News Egypt
(MENAFN - Daily News Egypt) Political youth movement Students Against the Coup (SAC) released a video showing its members blocking two major roads in Greater Cairo, and stating that the group will no ...

 Nov 27 2014 - Egypt- UPDATE: Building collapse in Cairo kills 18 peopleDaily News Egypt
(MENAFN - Daily News Egypt) At least 18 people have died when a building collapsed in Cairo's Matareya district said Dr. Hossam Abdelghafar, official spokesman of the Health Ministry.Eight people are ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help