Reem Investments posts $41m profit
Abu Dhabi, March 30, 2014
Reem Investments, an Abu Dhabi-based investment company, posted Dh152 million ($41.3 million) in net profit for last year.
Abdulhamid M Saeed, managing director, told the recent annual general meeting: “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 has proposed a 10 per cent cash dividend distribution based on the capital of Dh777.5 million which has been approved by the AGM.
In the chairman’s report, Saeed revealed 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 a beachfront lifestyle in rich surroundings with a choice of three, four and five bedroom luxury-inspired villas. - TradeArabia News Service
