First Dubai Announces Close To Double Quarterly ProfitsWednesday, May 13, 2009
First Dubai Real Estate Development has announced the results of its financial performance for the first three months of 2009. First Dubai earned Dh88.67 million as profits for the year's first quarter, with earnings per share of 8.88 fils, compared to Dh44.48 million for same period in 2008, where earnings per share amounted to 20.15 fils. First Dubai vice chairman, Khalid Esbaitah, said the results were achieved due to the great efforts made by First Dubai's parent company, Al Mazaya Holding, in sustaining profits despite the current economic downturn that has affected many companies in the property market. Esbaitah added that Al Mazaya had remained well aware of the difficult time that was being experienced by the markets, and that a lot of assets are required in order to keep up with the current economic situation. Source: Gulf News
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