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DUBAI: The developer of Motor City in Dubai has reported a 5.6 million dirhams ($1.5 million) net profit in the first quarter of 2021 – recovering from a net loss of 121.9 million dirhams in the same period last year. Dubai-listed Union Properties focused on improving key operational activities across the group, including a significant reduction in direct and administrative
Union Properties records $1.52m Q1 net profit DUBAI, 1 hours, 23 minutes ago Union Properties, the iconic property developer with a portfolio of diversified subsidiaries, announced AED5.6 million ($1.52 million) in net profit for the first quarter of 2021 compared to a net loss of AED121.9 million for the same period in 2020. The company has attributed this profit to a number of key factors including the group’s focus on capturing group synergies through improving key operational activities across the group, a significant reduction in overall group costs including a decrease in direc...
Dubai stocks advanced for a fourth straight session riding on an earnings-driven rally while Abu Dhabi stocks headed marginally lower before the Eid holidays. Saudi Arabian shares moved up, ending three days of trading in red. Dubai Financial Market clawed back intra-day losses as banking and real estate shares rebounded to help the index close higher by 0.4 per cent to 2,696 points. Monday's advance marked the gauge's sixth rise in the last seven sessions after upbeat first-quarter results set off the series of gains. The biggest single boost came in from Emirates NBD, gaining above 1 per ...
Dubai stocks surged to their best showing in more than two weeks bolstered by real estate stocks, while Abu Dhabi shares were off to a good start in the new month as first quarter earnings provided much needed impetus. Saudi stocks underperformed from a clouded oil outlook and poor corporate results. Dubai Financial Market scaled up 1.1 per cent to 2,654 points in what was its biggest leap since mid-April. The index opened the month on a strong footing gaining nearly 2 per cent, and comes after the gauge ended the final two weeks of April in the red amidst investors into encashing their po...
Dubai: Dubai and Abu Dhabi stocks headed upward in early trades as robust first-quarter earnings kept the momentum going for the markets, while Qatar Exchange pulled back after undergoing a wide selloff. Dubai Financial Market eked out 0.4 per cent at 2,616 points with Air Arabia appreciating past 2 per cent after recently announcing plans to resume flights for a number of destinations. That marked a sign that the aviation sector was opening up as parts of the world began to recover from the pandemic on the back of vaccine rollouts, though some other parts of the world slipped into fresh more...