Mubasher: First Dubai for Real Estate Development achieved an increase of 134% in profits during the third quarter of 2018 compared to the same period a year ago.
Earnings enlarged to KWD 1.66 million ($5.48 million) in Q3-18 from around KWD 712,390 ($2.35 million) in Q3-17, according to a bourse statement on Sunday.
During the first nine months of 2018, First Dubai recorded a growth of 70% in profits to KWD 2.92 million compared to KWD 1.72 million.
First Dubai clarified that the increase in profits is attributed to a change in fair value of investment real estate during the period ended on 30 September 2018.
Total assets increased by 5% to KWD 98.16 million, while the operating income decreased by 14% to KWD 1.93 million.
