Amalak Finance announced its financial results for the first half of the year yesterday, emphasizing its prudent management of operations in the UAE and maintaining a balanced balance sheet.
The company reported a net profit after income tax of AED 18.53 million for the first half of 2025, an increase from a net profit of AED 7 million during the same period in 2024.
Additionally, the company’s total revenue for the first half of 2025 surged by 61%, reaching AED 200 million compared to AED 124 million in the first half of 2024.
The revenue from the equity share of joint ventures and net income from developmental properties also saw a significant rise to AED 54 million, up from a net income of AED 5 million in the first half of 2024.
Operating expenses for Amalak fell by 3%, amounting to AED 40 million in the first half of 2025, down from AED 41 million in the same period the previous year.
During this period, Amalak completed the sale of land in the Ras Al Khor area for a total of AED 2.9 billion, with the transfer of ownership and receipt of the full proceeds taking place in July 2025.
Furthermore, Amalak successfully executed a partial sale of 29% of its investment in an associate company in Saudi Arabia during this timeframe.
The remaining 71% stake was sold on July 31, 2025, marking a complete exit from the investment in that associate.
Commitment Fulfillment
The company continued to meet its financial obligations, repaying AED 35 million to its financiers during the second quarter.
Following the period ending on June 30, 2025, Amalak fully settled its outstanding debts with remaining financiers by paying AED 906 million, including interest, in July 2025.
Amalak’s investments within the region contributed AED 5 million to income during the first half of 2025.