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Amlak Finance PJSC announced its financial results for the first half of 2025, reporting a net profit after income tax of AED 18.53 million, a significant increase from AED 7 million in H1 2024. The company's total assets were valued at AED 2.36 billion. Total revenue for H1 2025 rose by 61% year-on-year to AED 200 million, with increased income from joint ventures and development properties. Operating costs decreased slightly to AED 40 million. Amlak completed the sale of Ras Al Khor land plots for AED 2.9 billion and fully divested its investment in an associate in Saudi Arabia. The company repaid AED 35 million to financiers in Q2 and fully settled remaining financial obligations by July 2025. Investments in the region contributed AED 5 million in income during the period.
Amlak Finance PJSC and its subsidiaries have released an unaudited review report and condensed consolidated interim financial information for the six-month period ending on June 30, 2025.
Emirates Central Cooling Systems Corporation PJSC (Empower) reported a 7.1% increase in district cooling consumption in the first half of 2025 compared to the same period in 2024. This growth is attributed to high occupancy rates in existing real estate projects and the addition of new projects. Empower's customer base has expanded across various sectors, including residential, commercial, hospitality, healthcare, retail, and entertainment, as these sectors increasingly adopt energy-efficient cooling solutions to reduce carbon emissions. The company signed 86 new contracts to supply over 99,000 refrigeration tons (RT) to projects across Dubai, increasing its total contracted capacity to 1.86 million RT and connected capacity to over 1.6 million RT, with 1,684 buildings served. CEO Ahmad bin Shafar highlighted Empower's commitment to high-quality, reliable district cooling services, aligning with Dubai's sustainability goals. The company's operational efficiency and advanced technology have been crucial in meeting the growing demand for environmentally friendly cooling services. An extensive maintenance campaign before the summer season ensured the readiness of Empower's 88 district cooling plants and distribution networks.