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The document presents the unaudited interim condensed consolidated financial statements of Emaar Properties PJSC and its subsidiaries for the period ending 31 March 2024.

Watania International Holding (WIH) reported a net profit of AED 5.9 million for Q1 2024, a significant improvement from a loss of AED 2.8 million in Q1 2023. The company attributes the profit to improved operational performance and cost control. The combined operating ratio also improved to 97%, compared to 110% in the same period in 2023, due to improvements in the Medical and Motor Takaful lines of business. The company's chairman mentioned the successful execution of the company's turnaround strategy since its 2022 merger and the potential for growth in the regional insurance and Takaful sector.

Al Salam Bank has completed the acquisition of Kuwait Finance House Bahrain (KFH Bahrain) from Kuwait Finance House Group (KFH Group). This marks Al Salam Bank's fifth M&A transaction, further establishing its position as the fastest growing bank in Bahrain. The consolidation will increase Al Salam Bank's balance sheet by 28%, accelerate market share acquisition, and enhance its offerings. Both parties will continue to work together to ensure a smooth integration and uninterrupted banking experience for customers. The transaction is seen as a significant milestone in achieving strategic objectives and maximizing shareholder value. Customers will continue to access all existing services provided by KFH Bahrain.

BHM Capital, a major financial institution in the United Arab Emirates, has seen a 22% increase in profits in the first quarter of 2024, reaching AED 9 million, compared to AED 7 million in the same period in 2023. The company's total assets also increased, reaching AED 1.3 billion. Revenue from trading commissions and consultancy fees rose by 12%, and margin financing revenue grew by 127%. The company's total income at the end of the first quarter of 2024 increased by 47%, exceeding AED 37.5 million. The CEO of BHM Capital attributes these positive results to the company's effective investment strategy, developmental services, and partnerships and acquisitions.

Union Properties PJSC has reported a strong financial performance for Q1 2024, with a net profit of AED 16.5 million. Revenue increased by 13% to AED 138 million, compared to AED 122 million in Q1 2023. The company's subsidiaries also performed well, achieving a gross profit of AED 34 million, a 28% increase from the same period in 2023. Union Properties has also sold land worth approximately AED 820 million and is currently negotiating offers exceeding AED 900 million. The company made a debt repayment of around AED 300 million in Q1 and plans to repay AED 261 million in Q2, as part of its restructuring plans.