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L-R: R Mabarak Matar Al Hameeri, Andre Kasperian, Auditor, Ernst & Young; HE Abdulhamid Saeed, Chairman, Reem Investments |
Reem Investments, a leading firm with interest in real estate and investment based in Abu Dhabi, the capital of the UAE has announced that it had closed the year 2007 with an enviable Dh1.06 billion, driven both by sales revenue and fair value gains, as compared to the Dh205 million recorded for the year 2006.
Shareholders’ equity for the year grew 85% to Dh3.5 billion from Dh1.9 billion in 2006. Total net asset value increased by 69% to Dh5.3 billion from Dh3.1 billion in 2006. Based on this outstanding performance the company’s Board of Directors has proposed a dividend of 10%.
HH Sheikh Tahnoon Bin Zayed Al Nahyan, Chairman, Reem Investments, said, “The year 2007 has been both a milestone and remarkable year for the company. The year witnessed the company report remarkable financials, including an enviable net profit in excess of Dh1 billion”.
Reem’s mid to long-term investment strategy involves reaching out to countries like the USA, India, Pakistan, Turkey, Nigeria and Morocco. These investments have been highly diversified and include sectors like oilfields, real estate, telecommunications, information technology and financial services.
