Green Valley International Real Estate – one of the leading real estate companies in the region, announced a Net Profit of Dhs20m [$5,434,782 million] in the first quarter of 2014, a 15% increase over the Dhs17m achieved in the first quarter last year.
Announcing its results, the company achieved Net Revenue of Dhs20m, compared to a Net Revenue of Dhs50m in the first quarter of 2013. This amazing growth during the first quarter was a result of the impressive response and delivery from its iconic developments across UAE, Lebanon and Turkey.
Net worth of the company increased to Dhs3bn at the end of March 31, 2014.
Ali Saeed Al Salami, General Manager of Green Valley International Real Estate, said: “The quarter on quarter profits for Green Valley has increased by 15% and this underscores the value and growth potential of our company in line with our strategic plans. We have set unprecedented standards – both in the quality of our projects as well as our delivery standards and our impressive financial results are a reflection of this.”
He added: “We believe in offering value for the investments and this is reflected in the amazing returns both for the company as well as our investors.”
The results come close on the heels of the company unveiling new developments in Dubai worth Dhs1.5bn.
Well-renowned for its prompt adherence to delivery schedules and project quality, Green Valley has announced that in 2014, it will deliver five key projects in Lebanon; following the handover of three projects in the country in 2013.
Green Valley also has a number of projects under way across Lebanon, Turkey, UAE, Syria and Egypt. Earlier this year, the company had announced a major foray into Turkey with investments to the tune of Dhs200m, to tap into the booming real estate industry in the country and heightened interest from investors.
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