Al-Mazaya records AED 82 million net profit

Sunday, 18 October 2015 18:33

Al-Mazaya Holding has achieved a net profit of AED 82.34m until the end of the third quarter 2015. This compared to AED 69.30m in the corresponding period in 2014 representing an increase of 18.8%. The profit is equivalent to 13.29 fils per share compared to 11.19 fils per share in the corresponding period in 2014. Speaking after an October 13 board meeting, Mazaya Group CEO Eng. Ibrahim Al Soqabi said: “Al Mazaya Holding has achieved strong results in the first nine months of the year by focusing on increasing sales and ensuring sale and leasing activities met delivery schedules. Occupancy rates in revenue-generating projects were also increased."

More from Business

Meta delays release of Phoenix mixed-reality glasses to 2027, say reports

Meta is delaying the release of its Phoenix mixed-reality glasses until 2027, aiming to get the details right, Business Insider reported on Friday, citing an internal memo.
IndiGo's third day of mass flight cancellations throws Indian airports into disarray

Thousands of IndiGo passengers were stranded by flight cancellations on Thursday - a third day of chaos after the country's biggest airline did not make sufficient changes to its roster planning ahead of new government regulations.
UAE President receives Amazon founder Jeff Bezos

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan met with Amazon's Founder and Executive Chairman, Jeff Bezos, in Abu Dhabi.
Saudi Arabia forecasts deficit of $44 billion in 2026 budget

Saudi Arabia approved the kingdom's budget for 2026 with an estimated deficit of 165 billion riyals ($44 billion), the Saudi state news agency reported on Tuesday.