Page 37 - UP PR REPORT - JULY 2025

8/1/25, 9:33 AM A sales agreement worth 700 million dirhams was signed. Al-Ittihad Properties records a 44% growth in total profits during the first ha…
During the first half of this year, Al Ittihad Properties recorded total revenues of 316 million UAE dirhams, compared to 266 million dirhams
during the same period in 2024. Total profits also increased by 44% to reach 75.6 million dirhams, compared to 52.6 million dirhams during the
same period last year.

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Eng. Aamir Khansahib, CEO and Board Member of Etihad Properties, said: “We are pleased to announce the results of a new quarter during which
we have made further tangible progress in the transformation process we are witnessing. The financial results for the first half of this year reflect
the strength of our operational foundations and our continued commitment to creating long-term value. As we continue to invest to expand our
development projects and digitize our operations, we expect the financial implications of these strategic steps to become clearer in the coming
period.”

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The company explained that its operating expenses increased during the first half of 2025, mainly due to two main factors:

1.The nature of the early stage of the real estate development project cycle, where costs are initially borne, while revenues begin to flow gradually
over the next three years.

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