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Dear Shareholders,
First Dubai Real Estate Development Company’s assets value stands at KWD 99.272 million, at the end of 2015, compared
with KWD 99.278 million in 2014. In addition, the value of the company’s shareholders’ equity was KWD 64.626 million
at the end of 2015, compared with KWD 61.159 million at the end of 2014 – an increase of 5.7 %.
First Dubai Real Estate Development Company attributes these positive results to the successful completion of a large
number of real estate units, especially in Dubai, as represented by the Qpoint Project in Dubai Land. The results also reflect
an increase in occupancy in the Sky Gardens Project, located in Dubai International Financial Centre, with occupancy
rates reaching 95 %, by end of 2015.
Over the last financial year, First Dubai Real Estate Development Company extended its relationships with many banks and
investors with the aim of entering into strategic partnerships that will continue to develop new projects in the Arabian Gulf
and the wider Middle East region.
As we hope you recognise, First Dubai Real Estate Development Company is doing its utmost to boost its operations and
enrich its real estate offering by adding yet more projects to our portfolio of interests, all of which are designed to be
beneficial to both the company and its respected shareholders.
In addition to this, First Dubai Real Estate Development Company continues to keep moving forward by developing its
strategic vision to develop new projects and choose feasible investments, in the light of the region’s financial stability and
the real estate market boom. This can also be said to be a result of the company’s solid financial base.
In conclusion, I would again like to express my warmest thanks to all those who participated or contributed to the
accomplishment of our successes last year and all the achievements that went with it. We pray to God to guide us to what
is good for all shareholders and promise to continue to enhance the performance of First Dubai Real Estate Development
Company, in order to attain the highest standards at the domestic and regional levels in the coming months and years.
Peace be upon you.
03
ANNUAL REPORT
2015
Eng Ibrahim Al Soqabi
Chairman