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Reem Investments posts Dh52m net profit

Abu Dhabi: The Board of Reem Investments PJSC, the Abu Dhabi-based investment company, has announced net profit of Dh152 million for the financial year 2013 at its annual general meeting.

Abdul Hamid M. Saeed, Managing Director of Reem Investments, commenting on the company’s financial performance on behalf of its Chairman, Shaikh Tahnoun 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 per cent cash dividend distribution based on the capital of Dh777.5 million which has been approved by the AGM. The company continues to remain on a strong footing on the balance sheet as reflected in net assets of Dh4.8 billion.

The company had commenced work on the construction of Nalaya Villas, comprising 42 luxury villas in Najmat on Reem Island, Abu Dhabi.