Dubai first announced its financial results for the first nine months of 2016, confirming a net dividend of 2.10 million dinars during the period.

compared with 1.20 million dinars for the same period in 2015, an increase of 74.54% and the profitability of shares representing amounted to 2.10 fils compared 1.20 fils in the first nine months of 2015.

The head of the Governing Council of Dubai First Shalash Hajraf following a board meeting held yesterday October 30 that «First Dubai» continued during the first nine months of the year 2016 to achieve positive results in its financial statements, thanks to its focus on operational processes represented in the sale of residential units in projects under implementation and rental housing units in other projects completed and offered for rental.

Commenting on the results of operational activities of the company, Hajraf said the company continued to achieve high occupancy rates in its lucrative along the lines of the Sky Gardens project at the Dubai International Financial Centre and in which the occupancy rate reached 96%, in addition to its projects in the Kingdom of Saudi Arabia.

Such as «Mather towers» which reached occupancy rate in the 85%, and the project «Supreme Tower» which reached occupancy in which the proportion to 70%, while the company has achieved significant sales in its properties available for sale, which include condominiums in «Keoboant» project, located in Dubailand.

Financial Statements

And about the company’s financial statements during the last nine months of 2016, Hajraf said that the company was able to maintain a steady growth in operational performance and net profit, and in the framework of a long-term strategy and which aim to achieve the best returns on less risk factors, which added that the company It achieved a jump in total operating revenue increased by 54.90%.

Achievements

Hajraf said that First Dubai made achievements during the first nine months of the year, of which it has entered into a settlement with the parent company transactions resulted in an increase in assets and investments has had a profound impact in reducing the risk and distribution of real estate assets factors.

As it has enhanced rental income from existing projects, so as to renew leases with customers, an increase in line with current market prices.

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