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Reem Investments posts Dhs152m net profit

March 30, 2014 3:16 pm

The Board of Reem Investments PJSC, the Abu Dhabi-based investment company, has announced net profit of Dhs152m for the financial year 2013 at its annual general meeting on Wednesday, 26 March 2014 at the dome@rawdhat.

Abdulhamid M. Saeed, Managing Director of Reem Investments, commenting on the company’s financial performance on behalf of its Chairman, H.H. Sheikh Tahnoon Bin Zayed Al Nahyan, said: “Reem Investments continued to adopt prudent measures in response to changing market conditions to ensure that the company is well positioned to create long term value for its shareholders”.

The Board of Directors proposed a 10% cash dividend distribution based on the capital of Dhs777.5m which has been approved by the AGM. The company continues to remain on a strong footing on the balance sheet as reflected in the net assets of Dhs4.8bn.

In the chairman’s report, Mr. Abdulhamid M. Saeed, informed that the company had commenced work on the construction of Nalaya Villas, comprising 42 luxury villas in Najmat, on Reem Island, Abu Dhabi. This exclusive villa community offers residents an exotic beachfront lifestyle in rich surroundings with a choice of three, four and five bedroom luxury-inspired villas.

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Lindsay Johnston
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