Latest news with #Dh145
Khaleej Times
20-04-2025
- Business
- Khaleej Times
Ajman Bank posts Dh145 Million profit before tax in Q1 2025, reflecting 24% growth
Ajman Bank has posted a profit before tax of Dh145 million in Q1 2025, reflecting a 24 per cent increase. The bank reported the net operating income of Dh199 million, up by 2 per cent for Q1 2025, reflecting continued strength in core business performance with continued focus on strong recoveries, cost rationalization, increasing efficiencies through digitization and automation of IT infrastructures. These results are underpinned by a robust balance sheet growth, with total assets reaching Dh25 billion (up by 7 per cent), customer deposits rising to Dh21 billion (up by 8 per cent), and total shareholder equity standing at Dh3.1 billion (as compared to 2024 year end). The bank's capital position and asset quality continue to demonstrate solid improvement year-on-year as well as on a sequential quarterly basis. The capital adequacy ratio (CAR) stood at 18.2 per cent with Tier 1 capital at 17.0 per cent. Return on shareholder equity (ROE) was reported at 17.4 per cent (up by 161 bps), while return on assets (ROA) stood at 2.3 per cent (up by 49 bps). The non-performing loan (NPL) ratio improved to 9.7 per cent (from 9.9 per cent as of 2024 year end). Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, Chairman of Ajman Bank, said, 'The progress of Ajman Bank reflects the strength of our vision for Ajman's future and the pivotal role financial institutions play in shaping resilient and inclusive economies. As the banking sector continues to evolve, Ajman Bank stands at the forefront—guided by sound governance, national values, and a commitment to responsible growth. This achievement is not only a reflection of performance, but of purpose. I commend the Board, management, and every member of our team whose dedication and professionalism continue to drive our journey forward and contribute to the broader success of the United Arab Emirates.' Mustafa Al Khalfawi, CEO of Ajman Bank, stated, 'Ajman Bank's Q1 2025 results reflect the strength of our ongoing transformation and our ability to deliver consistent, value-driven performance. We remain focused on creating long-term value for our shareholders while continuing to invest in innovation, human capital, and customer-centric solutions. Our commitment to speed, service, and specialization continues to shape a bank where customer experience, innovation, and impact are at the core of everything we do. I am deeply grateful to our Board of Directors, our exceptional team, and our valued customers for their continued trust and loyalty. We are also proud to contribute to the growth of the resilient and dynamic UAE economy, which continues to offer a strong foundation for sustainable progress. Together, we are shaping an institution that is agile, responsible, and fully aligned with the future of Islamic finance.'
Hi Dubai
27-01-2025
- Business
- Hi Dubai
UAE: Etihad Rail's Impact on Property Values Expected to Boost Up to 15%
The recent announcement from Etihad Rail, unveiling its first high-speed, all-electric passenger train, is set to significantly impact property values, with some areas projected to see increases of up to 15%. Real estate experts believe that proximity to the new rail stations will be a key factor in determining these changes. Jeff Raju, CEO of Manifest Real Estate, expects areas around Etihad Rail stations to see rental and price hikes of 10 to 15%. "The proximity to metro and Etihad Rail stations will likely be crucial in determining property value," he noted. Similarly, Svetlana Vasilieva, head of secondary sales at Metropolitan Premium Properties, anticipates price rises of 5 to 7% in areas like Al Jaddaf, with larger apartments near stations seeing increases of up to 10%. However, experts like Evgeny Ratskevich, CEO of Metropolitan Capital Real Estate, caution that the full effects will unfold gradually. "The immediate impact may be limited, but the long-term effects will be more pronounced as residents seek the convenience of faster commutes between Dubai and Abu Dhabi," he said. The Etihad Rail network, which will allow travelers to journey between Dubai and Abu Dhabi in just 30 minutes at speeds of up to 350 km/h, is expected to boost the UAE's GDP by Dh145 billion over the next 50 years. Fibha Ahmed, VP of Property Sales at Bayut, highlights that the improved connectivity will drive demand for properties in areas along the rail route, reshaping residential choices and work opportunities. Notable areas set to benefit include Al Jaddaf, Saadiyat Island, and Yas Island, with significant price increases anticipated for developments near the stations. News Source: Khaleej Times
Khaleej Times
27-01-2025
- Business
- Khaleej Times
UAE: Property prices, rents in some areas near Etihad Rail stations could rise by up to 15%
Some properties could see value increases of up to 15 per cent following the recent announcement from Etihad Rail, real estate experts said. However, they emphasised that the full impact is likely to be felt gradually as the project unfolds and progresses. 'It's likely that areas around the Etihad Rail stations could experience rental and price increases of around 10 to 15 percent,' said Jeff Raju, CEO of Manifest Real Estate. 'The proximity of properties to metro and Etihad Rail stations will likely play a crucial role in determining their value.' Svetlana Vasilieva, head of secondary sales at Metropolitan Premium Properties, agreed, adding that specific areas like Al Jaddaf are expected to see price increases of 5 to 7 per cent. Stay up to date with the latest news. Follow KT on WhatsApp Channels. 'Projects with big apartments layouts located closer to the station may increase up to 10 per cent once Etihad Rail is operational," she noted. "I expect a higher price rise in Saadiyat island due to well established social infrastructure and higher demand, comparing to Reem and Yas Islands.' However, some experts pointed out that property value increases may take time to materialise. Evgeny Ratskevich, CEO of Metropolitan Capital Real Estate, noted that while the immediate impact on property price may be 'limited', the long-term effects will be felt slowly. "We anticipate a gradual increase in value, particularly for properties located in close proximity to the rail stations as more residents seek the convenience of shorter commutes between Dubai and Abu Dhabi,' he explained. The Etihad Rail network took a significant step forward on January 23 with the unveiling of its first high-speed, all-electric passenger train that will help commuters travel between Dubai and Abu Dhabi in just 30 minutes. Operating at speeds of up to 350 kmph, the train will pass through six stations, including four in Abu Dhabi: Reem Island, Saadiyat, Yas Island, and Zayed International Airport. In Dubai, the stations will be near Al Maktoum International Airport and Al Jaddaf area. Earlier, two stations were also announced in Fujairah's Sakamkam area and Sharjah University City. 'Reshape residential choices' Areas surrounding the Etihad Rail stations will experience substantial property value increases, noted to Fibha Ahmed, VP of Property Sales at Bayut. Drawing from past trends, she explained how the launch of the Dubai Metro led to price hikes in areas like JLT and Dubai Marina due to improved connectivity. 'When the Metro was launched in Dubai, areas like JLT and Dubai Marina saw property values rise due to improved connectivity,' she said. 'I expect the same for locations along the Etihad Rail route, including ports, industrial zones, and urban centres across all seven emirates. Its extensive network will enhance accessibility, boosting demand for nearby properties.' The high-speed train is expected to contribute Dh145 billion to the UAE's GDP over the next five decades. Besides this, Etihad Rail will also be rolling out a regular passenger train. Experts also believe that the rail network will drastically alter commuting patterns and work opportunities. 'It will potentially reshape residential choices and work opportunities across both emirates,' said Mohammad Braiwish, managing director of UAE-based transportation and traffic technology company TrafQuest. 'For major events like Formula 1, the service will enhance accessibility for international visitors and locals alike. Finally, the strategic placement of stations near international airports will streamline business and tourism connectivity," he added. Improved accessibility In Dubai, the Al Jaddaf station is expected to be a key area for growth, with improved access driving both demand and property values, noted Elie Naaman, co-founder and CEO of Ellington Properties. "Similarly, Saadiyat Island and Yas Island in Abu Dhabi are also set to become significant transit hubs, pushing property prices higher. Infrastructure advancements like these will make properties near the stations more appealing to both residents and investors, creating connected, vibrant communities," she added. Meanwhile, Jeff added that certain developments will see the most significant price increases from this infrastructure investment. 'Developments in areas such as Emaar South, Dubai South, Damac Hills, Nshama, Creek Harbour, and Al Jaddaf stand to benefit the most from this infrastructure investment,' he said. "The intercity connectivity between Dubai and Abu Dhabi will make it easier for residents to commute between these two major cities.' Evgeny further highlighted that new developments located near the stations are 'likely to experience more pronounced price appreciation' due to improved accessibility and reduced travel times.
