Abu Dhabi – Mubasher: Eshraq Investments has successfully completed the sale of Nuran Marina Hotel at a value of AED 133 million, marking a 45% increase over book value.
The sale transaction aligns with the company's investment vision to enhance shareholder value through capital appreciation of well-managed assets, according to a press release.
Mohamed Al Hashimi, CEO of Eshraq Investments, commented: “While we remain optimistic for the real estate sector and our assets in particular, proceeds from this sale will unlock new opportunities for Eshraq enabling us to bring innovative opportunities to an even wider group of investors.”
“Looking ahead, we remain focused on our investment path of value creation and attractive risk-adjusted returns for shareholders,” Al Hashimi continued.
In the first half (H1) of 2023, the ADX-listed firm turned profitable at AED 1.90 million, compared to net losses valued at AED 7.28 million in H1-22.
Revenues from commercial operations dropped to AED 19.64 million in H1-23 from AED 20.80 million as of 30 June 2022.
Meanwhile, the basic and diluted earnings per share (EPS) hit AED 0.0007 in the January-June 2023 period, versus a loss per share of AED 0.0052 a year earlier.
