Real estate developers in Abu Dhabi report profit decline

Real estate developers in Abu Dhabi report profit decline
26/08/2019 , by , in INTERNATIONAL

The profits of the UAE-listed real estate companies declined by 25% year-on-year during the second quarter of 2019.

The reasons for that decline include the increase in the cost of finance and operational costs.

According to data compiled by Mubasher, total profits reported by developers listed on the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX) went down to AED 3.05 billion ($830 million) in Q2-19, compared to AED 4.09 billion ($1.11 billion) the year before.

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