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Manazel Real Estate H1 revenue up on Al Reef 2 sales
The Al Reef 2 project in Al Samha is scheduled to be delivered from the end of 2017, with construction in progress.
Revenues for H1 2016 rose to Dh267.4 million with the launch of 'Al Reef 2'.
Manazel's chairman Mohamed M. Al Qubaisi said: "Over the years, Manazel Real Estate has made significant progress both in terms of restructuring its business and focusing on significant growth opportunities that exist in new market sectors."
Manazel has achieved success with the sales of Al Reef 2. Following the success of the initial Al Reef project, Manazel launched Al Reef 2 in 2014 in the Al Samha area in Abu Dhabi.
The Al Reef 2 project is scheduled to be delivered from the end of 2017, with construction in progress.
CEO of Manazel Real Estate Yaqoob Al Doseri said: "Manazel put up a notable performance in H1, which demonstrates the core strength of our business. The company has commenced cost management, profit optimisation and human capital investment which coincide with new project launches in H2 2016. We expect these initiatives to have a positive impact on our results in the years ahead."
- haseeb@khaleejtimes.com
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