Reem Investments posts AED 152 million net profit

Reem Investments posts AED 152 million net profit

30.03.2014: Distribution of 10% of dividends at Annual General Meeting Caption: From left to the right: Hamad Rashid Al Nuaimi, Director of Reem Investments; Abdulhamid

Distribution of 10% of dividends at Annual General Meeting




Caption: From left to the right: Hamad Rashid Al Nuaimi, Director of Reem Investments; Abdulhamid Saeed, Managing Director of Reem Investments; Mohammed Saeed Al Qassimi, Director of Reem Investments; and Tareq Ahmed Al Khouri 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 AED 152 million for the financial year 2013 at its annual general meeting on Wednesday, 26 March 2014 at the dome@rawdhat.


Abdulhamid M. Saeed, Managing Director of Reem Investments, commenting on the company’s financial performance on behalf of its Chairman, H.H. Sheikh Tahnoon Bin Zayed Al Nahyan, said: “Reem Investments continued to adopt prudent measures in response to changing market conditions to ensure that the company is well positioned to create long term value for its shareholders”.


The Board of Directors proposed a 10% cash dividend distribution based on the capital of AED 777.5 million which has been approved by the AGM.  The company continues to remain on a strong footing on the balance sheet as reflected in the net assets of AED 4.8 billion.


In the chairman’s report, Mr. Abdulhamid M. Saeed, informed that the company had commenced work on the construction of Nalaya Villas, comprising 42 luxury villas in Najmat, on Reem Island, Abu Dhabi.  This exclusive villa community offers residents an exotic beachfront lifestyle in rich surroundings with a choice of three, four and five bedroom luxury-inspired villas.




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

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30.03.2014 / MaP

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