Business & Money | Saturday 28 April, 2018 7:10 pm |

At the Annual General Meeting for 2017, the Board of Directors of Al Qudra Holding P.J.S.C. announced that the company has achieved great results at all levels and presented its 2017 full activity report for the financial year ending December 31st, 2017.

 

H.E. Mohamed Bin Thaaloob Al Derei said that the company is committed to remaining a leading and preferred investment partner internationally as it continues to steadily and confidently work towards objectives, contributing to marking a strong global positioning for the capital and the country on the global map.

 

H.E. Khalifa Yousef Khouri, Vice Chairman of Al Qudra Holding, stated that for the sixth year running, the company recorded an increase in profitability, with a consolidated net profit of AED 212.4 million for the year 2017, highlighting that the company is constantly working on its effective strategies and is looking forward to new investments that will expand its investment portfolio to benefit its shareholders.

 

As a result of buying Al Rayan Investment Company P.J.S.C, the total assets have increased from AED 2.5 billion in the year 2016 to AED 4.6 billion in 2017, which was reflected on the total return equity to the contributors, rising from AED 1.2 billion to AED 2.3 billion which in turn led the book value per share to surge to AED 2.86.

 

Al Qudra Holding was successfully listed on the investment and services sector of the second market of Abu Dhabi Securities Exchange, ADX, which ensures easy trading and liquidity. This reflects the increasing demand for the company’s shares, enabling it to be traded in an orderly and transparent manner.

 

Al Qudra Holding has completed its acquisition of Al Rayan Investment Company and it is currently working on improving its asset management, and increasing its revenues and preparing it for public offerings in the near future.

 

During the meeting of the General Assembly, the Board presented the achievements of Al Qudra Holding over the past year in various fields, which included the launch of Manarah Bay, and Barary Ain Al Fayda projects and the ongoing development of the Traditional Souq and Four Seasons - Kasr Al Bahr project, as well as the expansion of the Smarts Hotel chain in Rabat, Morocco, as well as other important projects worth billions of Dirhams.

 

At the end of the annual general meeting, the company Board asserted that Al Qudra Holding will continue to intensify its investment efforts by launching and implementing various new projects with the purpose of contributing to boosting the distinguished position of the Emirate of Abu Dhabi and the UAE at a global level. The company has witnessed significant successes which will be complemented by the completion of multiple projects in the years to come.

 

The shareholders expressed their gratification of the new foundation and standards set by the board to achieve better operational results in 2018 and thereby satisfying the aspirations of both the shareholders’ and the United Arab Emirates.