Real estate and hospitality boost Dubai Holding entity’s 2014 net |GulfNews.com:
"Lifted by strong numbers generated by its real estate, hospitality and telecom subsidiaries, Dubai Holding’s Commercial Operations Group recorded a 42 per cent year-on-year gain in net profits to total Dh4.7 billion. It was Dh3.3 billion in 2013.
In a statement, the holding company — which comprises the likes of Dubai Properties Group, Tecom Investments, the Jumeirah hotel chain as well as Mall of the World — said gains were made in gross profits and margins, while revenues were up 14 per cent to Dh13.2 billion (Dh11.6 billion in 2013). In another plus, it also brought down its debt-equity ratio to 0.52 against the previous year’s 0.61.
“We have a number of programmes already running and our Dh4.5 billion bundle of initiatives will help drive Dubai’s agenda to become the innovation capital for more than 2 billion people who live in the region around us,” said Mohammad Abdullah Al Gergawi, Chairman of Dubai Holding, which has completed 10 years of operations."
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