Please wait...
GulfBase Live Support
Leave a message and our representative will contact you soon
- Omani bourse extends rally as financial sector leads
- CBO issues treasury bills worth OMR26.250 million
- Closing Bell: Saudi main index sheds points to settle at 12,109.94
- Annual trade between Qatar and Jordan hits $248m
- Saudi Arabia, Japan strengthen investment ties with strategic MoU
- Saudi banking sector boosted by flurry of debt, sukuk issuances
- Ministry of Commerce issues decision on principles of governance for closed joint-stock companies
- Madayn's cumulative investment volume up by OMR1 billion in 5 years
- Aldar raises $2.45bn in sustainability-linked credit facility
- Why should UAE investors remain bullish on crypto market in 2025?
17/08/2016 05:24 AST
Manazel Real Estate, an Abu Dhabi-listed developer, reported on Tuesday Dh31.2 million in net profit for the first half of 2016, marking a 30 per cent plunge from the Dh45 million reported in the same half of 2015.
Revenues rose marginally to reach Dh267.5 million in the first half of the year - up from Dh262.8 million in the first six months of 2015.
Manazel said the revenues during the period came from the launch of Al Reef 2 and the construction progress, leading to increased sales. The project is scheduled for delivery starting from the end of 2017, with 90 per cent of it already sold.
"We have commenced a cost management, profit optimisation and human capital investment programme, which coincides [with] new project launched, which we are targeting for H2 2016. We expect both these initiatives to have a positive impact on our results in the years ahead," said Yaqoob Al Doseri, Manazel's chief executive officer.
He added, "We will continue to pursue and study significant growth opportunities that exist across both our local and regional markets, and remain focused on steady expansion and growing the Manazel brand and footprint in the years ahead."
Gulfnews
20/12/2017
May Institute, a national nonprofit organization that serves individuals across the lifespan with autism spectrum disorder (ASD) and other special needs, has entered into a Memorandum of Understandin
Press Release
27/11/2017
Manazel Real Estate, one of the UAE's leading developers, said plans are under way to expand its business into the wider Middle East and North African (Mena) markets.
The company's assessm
Trade Arabia
17/04/2017
Abu Dhabi-based Manazel Real Estate said it has reduced for the second time the number of homes in its long-awaited housing project in Jordan, its first outside the UAE, because of "market feedback".
The National
13/01/2025
Aldar Properties, Abu Dhabi's biggest listed developer, has raised Dh9 billion ($2.45 billion) in a sustainability-linked revolving credit facility from a syndicate of 15 UAE-based and international
The National
12/01/2025
Ooredoo announced on Sunday the appointment of Sheikh Nasser bin Hamad al-Thani as the new chairman of Ooredoo Kuwait.
Most recently, Sheikh Nasser was appointed as Group Regional CEO for th
11/01/2025
One of the fastest-growing logistics businesses in Mena region, GWC has marked "20 years of excellence and innovation", achieved significant milestones and won prestigious awards, solidifying its pos
Gulf Times
11/01/2025
Almarai, the world's largest vertically integrated dairy company and the world's fourth most valuable dairy brand in 2024, has successfully implemented RISE with SAP on Google Cloud. This milestone m
Saudi Gazette
05/01/2025
Elm, a pioneer in digital solutions, enhanced its brand identity, reflecting the company's ambitious and prominent objective. Leveraging comprehensive knowledge, a forward-thinking mindset, and a pro
Financial Information Co.