Alpha Dhabi's third-quarter earnings have more than tripled compared to the same period last year, driven by impressive revenue expansion across various sectors and regions. The investment company based in the United Arab Emirates reported an attributable profit of 3.35 billion Emirati dirhams for the quarter ending on September 30, significantly up from the 877.7 million dirhams recorded a year prior.
Total revenue soared to 14.93 billion dirhams from 10.27 billion dirhams, with notable contributions from the construction, industrial, and real estate sectors. Revenue from construction contracts increased to 2.46 billion dirhams, in contrast to the 2.04 billion dirhams reported previously. Furthermore, revenue from commercial and industrial services surged to 6.39 billion dirhams, up from 4.27 billion dirhams.
In the real estate sector, revenue rose sharply, reaching 3.54 billion dirhams in the third quarter, up from 2.15 billion dirhams in the same quarter of the last year. Management and related services also saw a boost, with revenue increasing to 1.79 billion dirhams from 1.26 billion dirhams last year.
The company additionally noted a rise in sales across goods and other categories during this period. Geographically, the International Holding Company unit observed strong results in both the UAE and international markets. Revenue within the UAE increased to 12.47 billion dirhams from 9.02 billion dirhams, while international revenue also jumped, hitting 2.46 billion dirhams compared to 1.25 billion dirhams a year earlier.
Alpha Dhabi’s investment portfolio encompasses a diverse range of interests, including significant stakes in Aldar Properties, NMDC Group, Alpha Dhabi Construction Holding, and NMDC Energy..