Green Valley posts $5.4m profit in Q1
Dubai, April 6, 2014
Green Valley International Real Estate has posted Dh20 million ($5.4 million) profit in the first quarter, a 15 per cent increase over the same period last year.
The company’s revenue touched Dh50 million during the period compared to Dh20 million in the previous year, said a statement.
The growth is attributed to the response and delivery from its developments in the UAE, Lebnon and Turkey.
The net worth of the company increased to Dh3 billion at the end of March 31.
Ali Saeed Al Salami, general manager, said: “The quarter-on-quarter profits for Green Valley has increased by 15 per cent 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.”
The company recently unveiled new developments in Dubai worth Dh1.5 billion.
It has a number of projects across Lebanon, Turkey, UAE, Syria and Egypt. - TradeArabia News Service