Eshraq Investments PJSC announced on Monday that its shareholders approved acquisition of an additional 7 per cent shares under its share buyback programme..
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Eshraq Investments said it plans to sell all its 58 apartments in Burj Daman-DIFC project in Dubai for AED162 million ($44 million). This fund will be used for its upcoming dividend distribution, debt repayment, new investments as well as share buyback.
Eshraq Investments has seen its 2022 net profit zoom over 15 times to AED589.79 million ($161 million) compared to a net profit of AED38.43 million for 2021, on the back of sound financial practices and a robust strategy.