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Property, Material Sales Boost Dubai Investments' Q3 - ASHARQ AL-AWSAT English Archive
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DUBAI (Reuters) – Dubai Investments Co, the UAE’s largest diversified holdings firm by market value, said yesterday third-quarter profit grew 34.1 percent on higher building material and property unit sales rose.

Profit in the three months to Sept. 30 rose 34.1 percent to 267.62 million dirhams ($72.88 million), compared with 199.62 million dirhams in the year-earlier period, Dubai Investments Chief Financial Officer Yawar Pasha said.

Dubai Investments operates about 35 subsidiaries, including Emirates Building Systems, which sells steel structures, and Dubai Investments Real Estate Co, which is building office towers, industrial complexes and residential units in the emirate.

“All of the group companies performed well and we saw good sales of properties, building materials and manufacturing products,” Pasha told Reuters.

Total income in the three-month period jumped 54.6 percent on higher sales of building materials, manufacturing products and property units, Pasha said.

Total income of 730.71 million dirhams in the third quarter compared with 472.68 million dirhams in the year-earlier period, he said.

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Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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