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Mr. Shlash Al Hajraf
Chairman
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Over the past year, First Dubai has made relentless efforts to
achieve set targets and secure the best possible investment
returns for our esteemed shareholders. And by the grace of
the Almighty Allah (SWT), and thanks to the prudent strategy
adopted by the Board of Directors, our ambitious dreams in
2016 have come true.
Noble Shareholders,
First Dubai boasts robust growth measured by a strong asset
base valued at KWD 94.336 million by the end of 2016.
The company’s stockholders’ Equity increased by 3.87%
to KWD 71.123 million by the end of 2016, from KWD
68.470 million in 2015. These achievements are attributed
to the success in completing a large number of residential
units, especially in Queue Point Project in Dubai Land and
the high occupancy rate of 96% at the Sky Gardens Project
in Dubai International Financial Center.
In addition, First Dubai has grown an effective network of
partnerships with a large number of banks and investors to
develop new projects in the Gulf and Middle East region. In
the meantime, the company spares no effort in maximizing
the value of its operations and enriching and diversifying its
property portfolio by adding more projects that are likely to
garner more benefits to the company and its shareholders.
We are currently developing a comprehensive strategic
plan, capitalizing on the state of recovery and stability now
enjoyed by the market to launch new lucrative investments
based on our robust financial base.
In conclusion, I reiterate my sincere appreciation and
thanks to all those who have efficiently contributed to
the tremendous achievements made by the company. We
supplicate for guidance from the Almighty Allah (SWT),
promising you, our esteem shareholders, to leave no stone
unturned in order to continue to push First Dubai to new
heights of success at the local and regional levels over the
coming years.
May Peace, Mercy and the Blessings of Allah be upon you
all!