Latest Threads on News from companies

In 2024, Emaar Properties PJSC achieved record-breaking financial results, with a 72% increase in property sales amounting to approximately AED 70 billion (US$ 19 billion) and a revenue backlog exceeding AED 110 billion (US$ 30 billion). The company's revenue grew by 33% to AED 35.5 billion (US$ 9.6 billion), and its EBITDA reached AED 19.3 billion (US$ 5.2 billion), with a margin of 54%. Net profit before tax rose by 25% to AED 18.9 billion (US$ 5.1 billion). Emaar also announced a new dividend policy and its highest proposed dividend of AED 8.8 billion, doubling from the previous year. The company expanded its business by acquiring 141 million square feet of development land in Dubai, valued at AED 96 billion. Emaar focused on customer satisfaction by repairing homes affected by unprecedented rain at its own expense and prioritized investing in young talent development in the UAE.

Sukoon Insurance PJSC, based in Dubai, UAE, is notifying Mr. Hamed Ahmad Ali, the Executive Chief Officer of the Dubai Financial Market, about an upcoming Board of Directors resolution. The resolution will be passed by circulation on February 17, 2025, at 10:00 am, and will include the approval of the corporate governance report for the financial year 2024. The notification is signed by Louise O’Donnell, Head of Claims Management & Legal, and a copy is sent to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority in Abu Dhabi, UAE.

Union Properties reported strong financial results for the fiscal year 2024, achieving a comprehensive income of AED 395 million and a 59% growth in operating profits. The company's success is attributed to the strong performance of its subsidiaries, effective debt restructuring, and increased demand for its real estate projects. Operating profit reached AED 161.8 million, and revenue from customer contracts rose to AED 528.7 million, compared to AED 508 million in 2023. In 2024, Union Properties completed debt repayments totaling AED 723 million and reduced finance costs from AED 114 million in 2023 to AED 31.7 million. The company plans to address accumulated losses through capital reduction, aiming to strengthen its capital structure and enable future dividend distribution.

Sukoon Insurance PJSC, with a paid-up capital of AED 461,872,125, is regulated by the Central Bank of the UAE. A notification was sent to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, regarding a resolution by circulation from the company's Board of Directors. This resolution will be passed on February 17, 2025, at 10:00 am, and will include the approval of the corporate governance report for the financial year 2024. The communication was sent by Louise O’Donnell, Head of Claims Management & Legal, with a copy to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority in Abu Dhabi.

The text is a formal announcement addressed to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, from Sheikh Khaled Zayed S. Al Nahyan, Chairman of the Board of Al Firdous (P.J.S.C.). It communicates the results of the company's Board of Directors meeting held on February 13, 2025. The board approved the preliminary financial statements for the third quarter ending December 31, 2024, and authorized the chairman to sign them. Additionally, they appointed Eng. Mohamed Bahaa Khairy Al Qaseer to the board following the resignation of Sheikh Ahmed Khaled Zayed Saqr Al Nahyan. This appointment will be subject to confirmation at the next General Assembly meeting. A copy of the announcement was also sent to the Security and Commodities Authority.