Reem Investments posts AED103.3 million net profit 01.04.2013: Distribution of 10% of Dividends at Annual General Meeting photo caption: From left to right: Andre Kasparian from Ernst & Young

Distribution of 10% of Dividends at Annual General Meeting




photo caption: From left to right: Andre Kasparian from Ernst & Young, Hamad Al Nuaimi Director of Reem Investments, Abdulhamid Saeed Managing Director of Reem Investments, Mohammed Al Qassimi Director of Reem Investments and Bambang bin Kajairi CEO of Reem Investments during the AGM at the dome@rawdhat.



The Board of Reem Investments PJSC, the Abu Dhabi-based investment company, has announced net profit of AED103.3 million for the financial year 2012 at its annual general meeting on Wednesday 27 March 2013 at the dome@rawdhat. The book value stood at AED55 per share, reflecting a 6.4 % increase over 2011 and an EPS (Earnings Per Share) of AED1.33.


The company’s Managing Director, Abdulhamid M. Saeed commenting on the company’s financial performance on behalf of its Chairman, H.H. Sheikh Tahnoon Bin Zayed Al Nahyan, said: “Reem Investments has demonstrated resilience and adopted the strategy focused on completing existing development projects and adopting cautious investment philosophy while keeping its cost base low.


“The Board of Directors proposed a 10% cash dividend distribution based on the capital of AED777.5 million which has been approved by the AGM. This would mean that the company would have in net effect distributed AED1.55 billion or 100% of the original invested capital back to the shareholders since the company’s inception in 2005 through the form of 50% capital reduction and 50% dividends over the years.”


In the chairman’s report, Mr. Abdulhamid M. Saeed, reported that in 2012, the company has a Shareholder’s Equity of AED4.2 billion which is represented through land bank in prominent locations in UAE and a diversified portfolio of investments.


In terms of liquidity, the company reported cash in hand of AED 352 million as at 31st December 2012 in addition to the AED872 million of publicly traded equities and bonds.





About Reem Investments


Reem Investments, established in May 2005, is a privately held company with a paid-up capital of AED 1.555 billion.  It is primarily involved in the real estate and financial investment sectors. Reem Developers, its real estate arm, is the masterplan developer for two mega projects – Najmat on Reem Island and Rawdhat along Airport Road.


Comprising a total of about 60 million sq ft of GFA, these projects are on track and are making their mark on the Abu Dhabi real estate landscape in terms of creativity, design and functionality. Rawdhat is located at the prime position at the entrance of Abu Dhabi. The USD 5 billion master development is spread over 28 hectares with a total GFA of 9 million sq ft. 


- Lindsay Johnston, Total Communications Dubai - also photo