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FINANCIAL NEWS
Abu Dhabi’s Reem posts $214m profit in 2009
12 Apr 2010
(MENAFN) The Chairman of Abu Dhabi-based Reem Investents said that the company posted $213.7 million profits last year, adding that the company eyes real estate expansions in the UAE and the GCC region, Gulf News reported.
He pointed out that the company’s two mega projects, namely the Najmat on Reem Island and the Rawdhat on the Airport Road, are sticking to their original timelines.
Reem Investments includes Reem Capital and Reem Real Estate. The company adopted a conservative posture in last year’s operations, the official noted.
Najmat, which covers well over 20 million square feet, shares Reem Island with developers Tamouh and Sorouh. Tamouh is handing over its Marina Square and Sorouh its Sun & Sky Towers on Shams Abu Dhabi later this year.
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