AED 216 million net profit for 2016 - Reem Investments
Abu Dhabi-based Reem Investments PJSC earned a net profit of AED 216 million for the financial year 2016, an increase of two per cent over 2015.
Reem Investment held its board meeting on 6 March 2017, presided by the Chairman H.H. Sheikh Tahnoon Bin Zayed Al Nahyan to discuss the audited financials for the year 2016. The Board proposed a 14 per cent cash dividend reflecting an increase of 17 per cent over 2015 dividend distribution, subject to the approval of the shareholders.
The strong and diversified net assets of AED 5.3 billion, supports the company’s growth plans which in turn will generate perennial returns to the shareholders.
Reem Developers, the real estate arm of Reem Investments, has already commenced construction on residential projects at Najmat Abu Dhabi in Reem Island and Rawdhat Abu Dhabi in Airport Road with a combined development value of over AED 500 million that will enhance the future profits and shareholder value.