In the first half of 2024, Waha Capital PJSC reported a 21% increase in net profit attributable to shareholders, totalling Dhs205 million.
The company said in a press release on Friday that its capital’s net operating income increased by 6% to Dhs529 million in the first half of 2024.
Strong inflows of third-party capital into Waha Investment, a rise in fee income, and the successful performance of the Private Investments division were the main drivers of this.
As part of its commitment to prudent balance sheet management, the company is finalising refinancing its $500 million revolving credit facility, which will mature in mid-August 2024. Waha Capital will be in a strong position to invest in new growth prospects in the upcoming years thanks to this refinancing.
“Despite challenging global macroeconomic conditions, Waha Capital demonstrated robust financial performance in the first half of 2024, achieving a return on average equity of 13.1%,” stated Waleed Al Mokarrab Al Muhairi, Chairman of Waha Capital. By obtaining AED691 million in fresh third-party capital, the Waha Investment company maintained its impressive track record and demonstrated institutional investors’ faith in our flagship funds. He continued by saying that the company’s balance sheet has been further strengthened by the Private Investments division’s successful value realisation across various assets. Furthermore, Waha Land remained a pillar of the business’s strategy, propelling expansion and offering a consistent rental yield.
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