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MarketScreener Homepage  >  Equities  >  DUBAI FINANCIAL MARKET  >  Dubai Financial Market PJSC    DFM   AED000901010

DUBAI FINANCIAL MARKET PJSC (DFM)
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Dubai Financial Market : Egyptian Landmark Sabbour’s unit launches $272m residential complex in Dubai

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03/13/2018 | 06:31pm CEST

CEO of Continental Investments Ahmad Sabbour

Mubasher: Continental Investments, a subsidiary of Egypt-based Landmark Sabbour, has launched Rukan Residence in Dubailand with $272 million (AED 1 billion) in investments.

The mixed-use residential complex, spanning 241,547 square metres, was launched by the Egyptian property developer on 11 March 2018 at the Armani Hotel, Burj Khalifa, Construction Week Online reported.

Rukan Residence will offer luxurious property in Dubai, in line with maintaining a distinctive Arabian aesthetic identity, according to the real estate firm.

The complex will be constructed next to the Arabian Ranches development, showing off a range of serviced apartments, high-end apartments, studios, villas, townhouses, and twin houses.

It is worth note that about 70% of the project will be earmarked to open areas and green landscapes

Commenting on the launch of Rukan Residence, CEO of Continental Investments Ahmad Sabbour said: “The 2.6 million-square-foot project reflects the increase in demand in the real estate sector in Dubai.”

"We are confident in the ability of Dubai's market ability to draw foreign investment, providing returns that are from the top regionally,” he continued.

Given that Sabbour previously said that Landmark Sabbour is currently considering dual-listing on the Egyptian Exchange (EGX) and the Dubai Financial Market (DFM).

Source: Mubasher

(c) All Rights Reserved - Mubasher Info 2005 - 2018 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (AED)
Sales 2018 368 M
EBIT 2018 68,6 M
Net income 2018 156 M
Debt 2018 -
Yield 2018 3,88%
P/E ratio 2018 45,15
P/E ratio 2019 30,10
Capi. / Sales 2018 19,6x
Capi. / Sales 2019 16,6x
Capitalization 7 224 M
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Hassan Abdul Rahman Al-Serkal Chief Operating Officer, EVP & Head-Operations
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Ali Al-Hashimi Executive VP & Head-Financial Services Division
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