We do hear all the time about the accomplishments made by UAE in all sectors which was described as the state of future and one of the world’s sustainable countries.
By reading about the state’s accomplishments in the latter periods you will find exceptional successes in many sectors especially the real estate sector which has flourished significantly thanks to the rising influx of investors and companies vigor performance.
National real estate companies in UAE had a great role in the urban boom witnessed in all the emirates. 5 major companies topped the active companies list with growth rates varying from 3% to 30% annually.
Here, we piled up these major companies and arranged them descending in respect of profitability last year.
1- Damac Real Estate
Damac registered revenues last year reached 8.54 billion dirhams while its net profits stood at 5.07 billion dirhams compared to 4.51 billion dirhams rising by 30%.
The company’s assets revalued by 25% reaching 23.45 billion dirhams. Its stocks rose also by 87% hitting 9.83 billion dirhams. This enhanced the company’s financial status as its net cash value stands at 6.74 billion dirhams.
Damac delivered around 2500 units last year including Akoya project which demonstrated a lot of the company’s sophisticated capabilities. It accomplished also different towers which are Golf Panorama, Golf Horizon, and Golf Fiesta.
Emaar’s net operating profits reached 4.38 billion dirhams last year rising by 18% compared to 2014.
As for its revenues, the company achieved around 13.66 billion dirhams hiking by 33% from last year. It’s worth mentioning that Emaar’s malls, hotels, and retail centers revenues reached 5.78 billion representing around 42% of its total revenues.
The company’s revenues from its sales in the international markets rose also by 19% to stand at 5.05 billion dirhams.
Nakheel’s profits in 2015 rose by 19% according to the company’s statement. Its profits value reached 1.19 billion dirhams.
The chairman of Nakheel Properties “Ali Rashed Lutah” said that the company aims at diversifying its resources and increasing its cash-generating assets in both retail and residential rental sectors.
Moreover, the company developed a number of iconic projects in Dubai including Jumeirah Palm, The World Islands, and many other developments.
4- Ras Al-Khaimah Properties (RAK Properties)
The net profits value of RAK Properties surged by 63.14% in the last quarter of 2015 compared to the same period of last year. The company recorded profits of rose from 81.24 million in 2014 to 132.7 million in 2015.
Deyaar Real Estate Development, which is 41% owned by Dubai Islamic Bank, registered a 3% growth in profits by the end of last year.
The company’s financial results referred to achieving 291.4 million dirhams as net profits in 2015 compared to 281.9 million dirhams in 2015.