Latest news with #DURAROCTA
Hi Dubai
24-07-2025
- Business
- Hi Dubai
Emirates Islamic Reports Record AED 2.2 Billion Profit Before Tax in H1 2025 Amid Strong Growth in Income and Deposits
Emirates Islamic delivered a record AED 2.2 billion profit before tax for the first half of 2025, marking a 19% year-on-year increase and reinforcing its position as one of the UAE's leading Islamic financial institutions. The performance was driven by strong growth in income, customer financing, and deposit inflows. Total income rose to AED 2.9 billion, up 9% compared to the same period last year, supported by gains across both funded and non-funded income streams. Customer financing grew 13% to AED 80 billion, while customer deposits surged by 27% to AED 97.4 billion. Current and savings account balances now make up 65.5% of the deposit base, further strengthening the bank's low-cost funding profile. Net profit for the period stood at AED 1.863 billion, up 12% year-on-year, with a healthy net profit margin of 3.74%. Operating profit improved by 6%, even as expenses rose by 15% due to continued investments in growth and technology. Chairman Hesham Abdulla Al Qassim highlighted the bank's robust performance and ongoing digital transformation. We are focused on empowering customers through enhanced digital offerings and remain committed to sustainable growth. The successful issuance of a USD 750 million Senior Unsecured Sukuk and multiple global recognitions reflect growing investor and market confidence in Emirates Islamic. The bank expanded its Shariah-compliant wealth management offerings through a partnership with Leonteq Securities AG and collaborated with DURAR OCTA on financial services for a major real estate project in Ras Al Khaimah. It also introduced new banking solutions, including the ALPHA Youth Account to promote financial literacy among the younger generation, and the Business Banking Diamond Account designed for high-value SMEs. Emirates Islamic's total assets increased by 24% to AED 138 billion in the first half of the year. The bank maintained a non-performing financing ratio of 2.8% and a strong coverage ratio of 159.9%. Its capital adequacy ratio stands at 18.5%, with a Common Equity Tier 1 ratio of 17.4%. CEO Farid AlMulla emphasised the bank's dual focus on financial performance and community engagement. We are deepening customer trust through innovation and inclusivity. Initiatives like the 'Let's Create Bankers' program and the 'EI Ambassadors' platform further invest in Emirati talent and sustainability partnerships. As Emirates Islamic continues to lead in digital transformation and Islamic finance, its strategic growth across consumer, SME, and corporate segments positions it well to support the UAE's economic ambitions. News Source: Dubai Media Office
Mid East Info
01-07-2025
- Business
- Mid East Info
DURAR OCTA and Emirates Islamic announce strategic partnership for new luxury project in Ras Al Khaimah
The collaboration aims to provide secure escrow management and financial transparency for Al Marjan Island's latest development, Trio Isle Interiors by Missoni 'Trio Isle Interiors by Missoni' launches with a smart financial guarantee, a luxurious ownership experience, and a partnership that enhances investor confidence Dubai, UAE,July 2025: DURAR OCTA and Emirates Islamic, one of the leading Islamic financial institutions in the UAE and have announced a partnership to facilitate financial management for the development of Trio Isle Interiors by Missoni, a luxury waterfront residential project on Al Marjan Island, Ras Al Khaimah. As part of this collaboration, Emirates Islamic will provide escrow account services, ensuring secure and transparent financial transactions throughout the project's lifecycle. This includes overseeing the regulation of cash flows and ensuring their allocation according to the approved timeline and construction schedule. This step also confirms the importance of adopting advanced and regulated financial systems within the luxury real estate market in Ras Al Khaimah, especially in projects targeting elite segments and international buyers. Following the success of Moonstone Interiors by Missoni, launched last year in Ras AI Khaimah (RAK) by DURAR Group Development, and the commencement of construction works, Missoni and DURAR OCTA now present their latest project — Trio Isle Interiors by Missoni. This partnership falls within the commitment of both parties to provide a secure and transparent investment environment underscoring the importance of regulated financial practices in Ras Al Khaimah's growing real estate sector, particularly in high-end developments. Supported by Emirates Islamic's advanced digital banking solutions, the escrow management services will enhance investor confidence and streamline project financing, reinforcing Ras Al Khaimah's position as an emerging luxury real estate hub. Trio Isle Interiors by Missoni combines sophisticated design concepts with a luxurious community character, offering an integrated concept of modern waterfront living, and elevating the standards of luxury housing in Ras Al Khaimah to new horizons. It will also offer exclusive Missoni-designed residential units, which include spacious one-, two-, and three-bedroom apartments all infused with the brand's signature design flair. Alberto Caliri, Creative Director at Missoni, emphasised the project's significance: 'We are thrilled to continue this journey with DURAR OCTA. Trio Isle Interiors by Missoni builds upon the remarkable success of Moonstone, offering a refined extension of the Missoni-branded residential experience – where iconic design meets exclusive waterfront luxury.' Mohammed Miqdadi, CEO of DURAR Group, highlighted the emirate's continued rise: 'Al Marjan Island is a remarkable canvas for waterfront living, and this project enhances its status as the new epicentre of luxury real estate. Trio Isle Interiors by Missoni is designed to capture the essence of blissful waterfront living. As a branded residential development with a full range of resort-style features and facilities, residents will truly enjoy the lifestyle at Trio Isle. With Moonstone Interiors by Missoni, we set the benchmark for luxury-branded residences in Ras Al Khaimah. Now, we take that success even further, introducing an elevated concept that embodies waterfront bliss while reinforcing Ras Al Khaimah's rise as a global luxury destination.' Fawaz Sous, CEO of OCTA Development, reinforced the project's significance: 'Following the remarkable success of Moonstone Interiors by Missoni, Trio Isle Interiors by Missoni strengthens the trust global brands place in OCTA Development to deliver exceptional, visionary projects. This development builds upon our proven expertise, bringing a bold new dimension to Al Marjan Island's waterfront experience.' Sous continued: 'What distinguishes 'Trio Isle' is the harmony between luxurious Italian design, a prime waterfront location, and a development vision that we are keen to implement with precision and efficiency. We do not merely offer residential units but rather create an integrated lifestyle that reflects the spirit of modernity and keeps pace with the aspirations of global investors for upscale and sustainable communities. Vivek Shah, Head of Corporate Banking, Emirates Islamic, said: 'Emirates Islamic is proud to announce our new partnership with DURAR OCTA to provide escrow account services for the upcoming Trio Isle Interiors by Missoni development, a project that will enhance investor confidence and expand the real estate market in Ras Al Khaimah. Emirates Islamic will continue in its path of collaboration to deliver innovative products and enhance customer experience, aligning with our vision to be the most innovative Shariah-compliant bank for our customers, people, and communities.' He added, 'By facilitating secure and transparent Escrow account management, and ensuring funds are allocated according to construction milestones, this partnership will help enhance investor confidence and promote efficiency across diverse projects and transactions. With real estate in Ras Al Khaimah experiencing significant growth, Emirates Islamic will support the delivery of secure and regulated practices within a robust financial framework. This will help the investment environment to continue to grow and mature while attracting both regional and international buyers — essential attributes that will maintain and expand interest in real estate in Ras Al Khaimah.' Trio Isle Interiors by Missoni is being developed by DURAR OCTA and is expected to be completed by the first quarter of 2028. About Missoni: Missoni, renowned for its excellence in Italian fashion, was founded in 1953 by Ottavio and Rosita Missoni. A promoter of a vibrant and optimistic aesthetic, Missoni encompasses a wide range of products and projects, including ready-to-wear collections for women and men, sportswear, beachwear, textile accessories, and home furnishings. Art and craftsmanship are inseparably linked in the world of Missoni, where creativity and design are coupled with an undisputed commitment to research and artisanal experimentation, reaching its peak in the development and application of the most sophisticated techniques in the field of knitwear. The brand currently operates prestigious licenses with excellent partners in the fashion and design industry and has undertaken several real estate projects globally. In 2018, the brand entered into a partnership with the Italian Strategic Fund to enhance the visibility of its brand and the significant potential of the company. About DURAR Group: DURAR is one of the leading property development groups in the UAE and offers a range of world-class solutions to its clients, providing development and flexibility in planning to ensure that each client receives strategic and highly personalised solutions. DURAR excels in project planning, both commercially and environmentally, by adopting lifecycle and visibility tools to be employed in the project, and it guarantees on-time deliveries. Its expertise stretches across the entire property spectrum, including residential, commercial, retail, and industrial, specialising in a complete range of cost-effective in-house management services. The company's portfolio includes masterpieces such as J One at Dubai Water Canal, Masa Residence interior by YOO inspired by Philippe Stark, Jasmine Lane by Elie Saab, and Moonstone and Trio Isle Interiors by Missoni. About OCTA Development: OCTA Development, based in Dubai Hills Business Park, is the powerhouse behind the OCTA brand — a trusted name built on over two decades of leadership in Dubai's real estate sector. Their philosophy is shaped by the 'Life' approach, focused on offering premium living, elevating lifestyles, and reimagining experiences. With a multidisciplinary team of over 120 specialists, OCTA Development delivers premium projects with outstanding attention to detail in Dubai's most sought-after destinations. With a track record of over 8,000 units sold and AED 16+ billion in transaction volume, the OCTA brand has positioned itself as a driving force in the region for branded residences. Its industry partners include iconic brands like Missoni, W Residences, Pagani, Elie Saab, Marriott, Mouawad, Rove Home, St. Regis Residences, and Franck Muller. The current pipeline includes flagship launches such as Trio Isle Interiors by Missoni in Ras Al Khaimah and OCTA Isle in Dubai Islands — part of a strategically growing portfolio across the Islands with a projected development value surpassing AED 2 billion. About Emirates Islamic: Emirates Islamic (DFM: EIB), part of Emirates NBD Group, is a leading Islamic financial institution in the UAE. Established in 2004 as Emirates Islamic Bank, the bank has established itself as a major player in the highly competitive financial services sector in the UAE. Emirates Islamic offers a comprehensive range of Shariah-compliant products and services across the Personal, Business and Corporate banking spectrum with a network of 40 branches and 229 ATMs/CDMs across the UAE. In the fast-growing area of online and mobile banking, the bank is an innovator, being the first Islamic bank in the UAE to launch a mobile banking app and offer Apple Pay, as well as being the first Islamic bank in the world to launch Chat Banking services for customers via WhatsApp. Emirates Islamic has consistently received local and international awards, in recognition of its strong record of performance and innovation in banking. Emirates Islamic was recognized as 'Best Overall Islamic Bank' and 'Most Innovative Islamic Bank' at the Islamic Finance News Awards 2024. The Bank was also named the 'Most Innovative Islamic Bank' at the prestigious Euromoney Islamic Finance Awards 2024. As part of its commitment to the UAE community, the Emirates Islamic Charity Fund provides financial aid to those in need, with a focus on food, shelter, health, education and social welfare contributions.
Mid East Info
20-05-2025
- Business
- Mid East Info
Trio Isle Interiors by Missoni set to bring iconic designer luxury to Al Marjan Island in Ras Al Khaimah - Middle East Business News and Information
Dubai, UAE: Following the success of Moonstone Interiors by Missoni, Ras Al Khaimah's first-ever branded residences, Trio Isle Interiors by Missoni is set to push boundaries even further – elevating waterfront living on Al Marjan Island to exquisite new heights. The spectacular three-building project is being undertaken by DURAR OCTA – the powerhouse collaboration between DURAR Group and leading development management firm OCTA Development. Building on the triumph of Moonstone, Trio Isle Interiors by Missoni introduces an amplified living experience through the Trio Effect – three podium levels, three pools, three restaurants, and three lobbies – all meticulously designed to create an immersive, resort-like lifestyle, enriched by over 25 world-class amenities. Missoni's distinctive design philosophy once again takes centre stage, transforming interiors into bold, dynamic expressions of colour, pattern, and fluid architectural aesthetics. Seamlessly blending creative artistry with the tranquility of Al Marjan Island, the development is crafted to offer a sophisticated and serene residential experience. Abdulla Al Abdouli, Chief Executive Officer of Marjan, expressed his appreciation for the new project: 'Al Marjan Island continues to attract world-class brands and developers, reinforcing its status as a premier luxury destination. The addition of Trio Isle Interiors by Missoni reflects our vision for Ras Al Khaimah as a thriving hub for high-end real estate and investment.' Alberto Caliri, Creative Director at Missoni, emphasised the project's significance: 'We are thrilled to continue this journey with DURAR OCTA. Trio Isle Interiors by Missoni builds upon the remarkable success of Moonstone, offering a refined extension of the Missoni-branded residential experience – where iconic design meets exclusive waterfront luxury.' Mohammed Miqdadi, CEO of DURAR Group, highlighted the emirate's continued rise: 'Al Marjan Island is a remarkable canvas for waterfront living, and this project enhances its status as the new epicentre of luxury real estate. Trip Isle Interiors by Missoni is designed to capture the essence of blissful waterfront living. As a branded residential development with a full range of resort-style features and facilities, residents will truly enjoy the lifestyle at Trio Isle. With Moonstone Interiors by Missoni, we set the benchmark for luxury-branded residences in Ras Al Khaimah. Now, we take that success even further, introducing an elevated concept that embodies waterfront bliss while reinforcing Ras Al Khaimah's rise as a global luxury destination.' Fawaz Sous, CEO of OCTA Development, reinforced the project's significance: 'Following the remarkable success of Moonstone Interiors by Missoni, Trio Isle Interiors by Missoni strengthens the trust global brands place in OCTA Development to deliver exceptional, visionary projects. This development builds upon our proven expertise, bringing a bold new dimension to Al Marjan Island's waterfront experience.' With completion anticipated by Q1 2028, Trio Isle Interiors by Missoni solidifies Ras Al Khaimah's standing in the world of high-end living, marking yet another milestone in the region's unstoppable luxury evolution.
ME Construction
07-03-2025
- Business
- ME Construction
DURAR and OCTA Properties collaborate to develop Trio Isle Interiors by Missoni
Property DURAR and OCTA Properties collaborate to develop Trio Isle Interiors by Missoni By The project features three buildings, each offering unrivaled design, flawless finishes, and boasting a wide range of exceptional lifestyle amenities said the developer DURAR and OCTA Properties have announced their collaboration as DURAR OCTA to jointly develop Trio Isle Interiors by Missoni in Ras Al Khaimah (RAK). The project is being developed by DURAR OCTA and is expected to be completed by the end of 2027. The project aims to offer refined living within a waterfront setting on Al Marjan Island. Trio Isle Interiors by Missoni comprises three buildings, each designed with aesthetic finishes, interiors fitted out by the Italian brand. Residents will enjoy the 'TRIO effect' – three levels of podiums, three swimming pools, three restaurants, and three lobbies, ensuring premium living and a true resort-like lifestyle, complemented by more than 25 amenities, said a statement. Al Marjan Island known for its pristine beaches and provides an idyllic backdrop for Trio Isle Interiors by Missoni. The city itself offers a compelling blend of rich cultural heritage, breathtaking mountains, tranquil beaches, and contemporary amenities, making it a destination for tourists and expats alike, it added. Trio Isle Interiors by Missoni will offer residential units including one-, two-, and three-bedroom units, all infused with the brand's signature design flair. Livio Proli, CEO of Missoni said, 'We're pleased to be working with DURAR OCTA again on this second project together in Ras Al Khaimah. Our collaboration has been rewarding, and we're looking forward to contributing to the growth of this dynamic real estate sector with another unique development.' Mohammed Miqdadi, General Manager of DURAR Group added, 'Trio Isle Interiors by Missoni on Al Marjan Island represents an outstanding opportunity for residents, holidaymakers, and investors in Ras Al Khaimah, offering an unrivaled lifestyle destination with world-class design and exceptional amenities in one of the emirate's most sought-after locations.' 'This project is yet another testament to the trust global brands place in OCTA, building on the success of last year's launch. Designed to epitomise blissful waterfront living, it will feature unparalleled amenities and experiences, all brought to life through a distinctive and thoughtfully crafted design,' commented Fawaz Sous, CEO of OCTA Properties.
Khaleej Times
04-03-2025
- Business
- Khaleej Times
Missoni presents Trio Isle Interiors on Al Marjan Island in partnership with DURAR OCTA
Missoni, in collaboration with DURAR OCTA, announces the launch of Trio Isle Interiors by Missoni on Al Marjan Island in Ras Al Khaimah. This new development features three buildings with exceptional design, premium finishes, and over 25 lifestyle amenities, offering residents a refined waterfront living experience. Following the success of Moonstone Interiors by Missoni, launched last year in Ras Al Khaimah, the project marks the next step in the partnership between DURAR, the luxury developer, and OCTA Properties, a leading real estate management company in the UAE. This collaboration brings Missoni's iconic style to the pristine surroundings of Al Marjan Island, a 4.5 km extension into the sea covering 2.7 million square meters. Trio Isle Interiors by Missoni will consist of three buildings, offering world-class aesthetics and interior design by the renowned Italian brand. The development will feature spacious one-, two-, and three-bedroom residential units, all reflecting Missoni's signature vibrant style. The development includes three podiums, three swimming pools, three restaurants, and three lobbies, ensuring a true resort-like lifestyle. Livio Proli, CEO of Missoni, said, "We're excited to continue our successful collaboration with DURAR OCTA on this second project in Ras Al Khaimah. This partnership allows us to contribute to the dynamic growth of the UAE's real estate sector with another unique development." Mohammed Miqdadi, general manager of DURAR Group, added, "Trio Isle Interiors by Missoni offers a one-of-a-kind lifestyle destination with world-class design and exceptional amenities, making it a desirable location for residents, investors, and holidaymakers alike." Fawaz Sous, CEO of OCTA Properties, said, "This project is another example of the trust global brands place in OCTA, following the success of our previous launches. Trio Isle Interiors by Missoni will offer unparalleled amenities and a thoughtful design that epitomises waterfront living." The project, developed by DURAR OCTA, is expected to be completed by the end of 2027. DURAR Group has a strong reputation for delivering high-quality projects, including MASA Residence and Moonstone Interiors by Missoni on Al Marjan Island. OCTA Properties is set to launch 14 new projects in Dubai by March 2025, with a total value exceeding Dh9 billion.
