Bayan Investment announced its results for the first half of 2008 showing a net profit of KD26.1 Million, and earning per share valued at 70 Fils. In this context, Mr. Faisal Al Mutawa – Chairman & Managing Director of the company – said that these findings translate the company’s intention for implementing its expanding strategy in the region with allocating a portion of its resources towards gulf markets. This strategy enabled the company to acquire a number of distinctive opportunities of which results started to realize generating good results for the company’s shareholders.
The beginning of these opportunities was the purchase of real estates, with a distinct site, on Al-Reem Island in Abu Dhabi emirate through Bonyan Real Estate Company (the real estate arm of Bayan Investment), then the capital increase of Dar Al-Dhabi Holding Company to KD100 Million in order to develop these properties and build several distinctive towers (residential – offices – commercial) of high altitudes. The height of two towers will reach 300 meter above sea level and are the highest in type within Najmat Abu Dhabi project and in response to the increasing demand for real estate in the UAE in general and Abu Dhabi emirate in particular.
According to Mr. Al Mutawa, it is expected that Bayan Investment Company profit growth will continue due to the expansion in its activities and the continuous diversification of its income resources to enhance its presence at the local and regional levels…