«Truth»: 137.2 billion dirhams, total assets of the six real estate companies listed

«Truth»: 137.2 billion dirhams, total assets of the six real estate companies listed

It demanded complete .. sector legislation and the establishment of real estate stocks
Date: February 28 2016
Source: Abir Abdel Halim – Abu Dhabi
The report called for the identification of areas where it is permissible ownership of non-citizens of the state and the rights arising from it.
According to a report issued by the company «Truth» Economic Consultancy, yesterday, the need to complete the legislation regulating the real estate sector in the state, to adjust and tighten their grip on the value of rents and sale prices of real estate units of residential, office and commercial. He stressed the need to establish Altgariraly Stock Exchange real estate by each emirate, and to identify areas where there may be ownership of non-citizens of the state. The report revealed that the total assets of listed real estate companies do not Psoqa Dubai and Abu Dhabi Securities in the state, amounted to 137.2 billion dirhams at the end of 2015, compared to 134.3 billion dirhams at the end of 2014, up 2.9 billion dirhams.
In detail, it demanded the company «Truth» Economic Consultancy, to complete a series of legislations regulating the real estate sector in the state, to adjust and tighten their grip on the value of rents and sale prices of real estate units of residential, office and commercial. The company confirmed in a report released yesterday, entitled «the financial situation of companies contribute to public real estate sector» Emirates (UAE) in the (2014-2015), the need for an exchange of real estate by each emirate, in agreement with the official concerned the real estate sector, and to identify areas where there may be ownership non-citizens of the state, and the rights pertaining to it in the different emirates.
He called general manager of the company «Truth», Reda Moallam , activate and stimulate and support the Emirates Development Bank, to provide banking facilities and technical sectors real estate and industrial, and to address the real estate sector directly. Mosallam and stressed the importance of developing real estate map shows the real needs of this important sector. The report revealed that the total assets’m not real estate companies, from a total of 10 real estate companies listed Psoqa Dubai and Abu Dhabi Securities, amounted to 137.2 billion dirhams at the end of 2015, compared to 134.3 billion dirhams at the end of 2014, up 2.9 billion dirhams. The report also pointed out that these companies include (ALDAR, and sunshine, and Ras Al Khaimah, and Emaar, Deyaar and Union), which represents about 90% of Dubai and Obozi. The report explained that «current assets of these companies fell by the end of 2015, compared to 1% in 2014, reaching to 78.2 billion dirhams in 2015, compared to 79.1 billion dirhams in 2014».
The report pointed out that the shareholders in these companies rights, has achieved a rise at the end of 2015, it amounted to 8.4 billion dirhams, where he rose to 77.5 billion dirhams, compared with 69.1 billion dirhams at the end of 2014, an increase of 12%.
According to the report, the total income of the six real estate companies of the current activity at the end of 2015 approximately 20.463 billion dirhams, an increase of 263 million dirhams, compared to 2014, which amounted to 20.2 billion dirhams, as these companies have seen a decrease in total direct costs (costs sales) by the end of December 2015 compared with 2014, by 11%, dropping to 9.8 billion dirhams at the end of 2015, compared to 11 billion dirhams at the end of 2014. The report emphasized that the net profits of the six companies registered Stock Exchanges Abu Dhabi and Dubai, reached by the end of 2015, about 7.8 billion dirhams , an increase of 1.1 billion dirhams compared to the end of 2014, where she was 6.7 billion dirhams.
It is noteworthy that the report was based on the comparison of the final accounts and published six companies in the Abu Dhabi Securities Market and Dubai Financial Market, on 31 December 2015 and 31 December 2014.

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