Latest news with #Dh27.5
Al Etihad
7 days ago
- Business
- Al Etihad
IHC reports Dh54.7 billion revenue and Dh10.8 billion profit in H1 2025
4 Aug 2025 20:39 ABU DHABI (ALETIHAD)International Holding Company (IHC) has reported robust financial results for the first half of 2025, posting revenue of Dh54.7 billion, up 31.1% year-on-year, and a net profit of Dh10.8 billion, reflecting its accelerating growth across core second quarter proved to be one of the strongest in IHC's history, with revenue surging 22.5% year-on-year to Dh27.5 billion and net profit increasing by 55.3% to Dh6.7 billion, driven by strategic execution and operational business segments underpinned the topline growth, with the Real Estate & Construction vertical alone contributing Dh22.6 billion in revenue—up 47.8% and accounting for 41.4% of the total. Marine & Dredging reported Dh14.1 billion, Hospitality & Leisure rose 72% to Dh4.9 billion, and Financial Services and Energy grew by 21.4% and 161.3%, per share climbed to Dh2.49, and return on equity stood at 10.8%, underscoring operational efficiency and capital discipline. As of June 30, 2025, total assets rose to Dh436.9 billion, up from Dh401.8 billion at the end of 2024.'Our H1 2025 results reflect the continued strength of IHC's diversified model and the disciplined execution of our strategic investment agenda,' said Syed Basar Shueb, CEO of IHC. 'By delivering outstanding portfolio performance and enhancing operating leverage, we are unlocking value across sectors while deepening our impact across regional and international markets. As we shape the industries of tomorrow, we continue to connect innovative businesses with long-term capital and operational excellence, ensuring that our platform remains built for scalable and sustainable global relevance. IHC remains committed to being a catalyst for economic transformation and delivering enduring value to our shareholders and stakeholders.'Among notable initiatives in H1 2025, IHC launched RIQ, an AI-native global reinsurance platform in partnership with BlackRock and Lunate; Gridora, an infrastructure joint venture with ADQ and Modon; and a UAE Dirham-backed stablecoin project in collaboration with ADQ and First Abu Dhabi Bank. It also led a high-level delegation to the World Economic Forum in portfolio moves included Multiply Group's acquisition of a controlling stake in Spain-based fashion retailer Tendam, a 69.33% stake in Reem Finance, and PureHealth's Dh8.4 billion acquisition of a majority stake in Greece's Hellenic Healthcare Group. Other investments spanned logistics, oilfield services, renewable energy, and SME financing. IHC, now valued at Dh881.6 billion in market capitalisation, continues to position itself as a global investment powerhouse with an expanding portfolio of over 1,300 subsidiaries across sectors such as asset management, real estate, healthcare, IT, and financial services.
Al Etihad
23-07-2025
- Business
- Al Etihad
Abu Dhabi Fund for Development finances strategic housing project in Somaliland
23 July 2025 17:23 ABU DHABI (ALETIHAD)Abu Dhabi Fund for Development (ADFD) has announced the inauguration of a comprehensive social housing project in the city of Berbera, project, valued at Dh27.5 million (approximately $7.5 million), underscores the UAE's long-standing commitment to promoting sustainable development in includes the construction of 300 residential units designed across three housing categories, to accommodate diverse family needs. It also involves the development of critical infrastructure, including potable water systems, sewage and stormwater drainage networks, internal roads, landscaped green spaces, and facilities providing essential transformative project is part of ADFD's broader development efforts aimed at enhancing quality of life and ensuring access to safe and dignified housing. It also aligns with the United Nations Sustainable Development Goal 11, which aims to: 'Make cities and human settlements inclusive, safe, resilient, and sustainable' by inauguration ceremony was led by Mohamed Aw-Ali Abdi, Vice-President of the Republic of Somaliland, with the participation of Dr. Abdullah AlNaqbi, Director of the UAE Trade Office in Somaliland, alongside senior officials from both Saif Al Suwaidi, Director-General of the Abu Dhabi Fund for Development, said, "This project is a continuation of ADFD's mission to support sustainable development across partner countries. Providing adequate housing is a cornerstone of community stability and economic advancement. We are proud to collaborate with the Government of Somaliland on this vital initiative, which not only provides quality homes for approximately 1,500 individuals, but also generates new job opportunities and stimulates local economic activity."Together, these efforts will drive long-term social and economic benefits, contributing meaningfully to the region's growth and resilience."Speaking at the inauguration, Mohamed Aw-Ali Abdi, Vice-President of the Republic of Somaliland expressed sincere gratitude to ADFD and the UAE for their consistent development support. He emphasised that the project represents a strategic step toward improving living conditions in Berbera by offering well-designed, integrated housing that enables hundreds of families to settle in a safe and dignified added that the benefits of the project extend beyond housing, encompassing infrastructure development, improved access to essential services, and job creation, all of which support local economic growth and reinforce the sustainability of the city's development. ADFD continues to play a key role in advancing Somaliland's development agenda through the management of a UAE government grant totalling Dh330 million. This funding supports a suite of strategic projects, including the Dh262 million restoration of the vital Berbera–Hargeisa highway, as well as initiatives in the energy and transport sectors, all designed to strengthen infrastructure and accelerate sustainable, long-term growth across the region. Source: Aletihad - Abu Dhabi
