Why Dubai’s Jumeirah Village Circle is booming for renters and buyers

by SiDRA HOMES on January 22, 2023

the operator of business districts in Dubai which are home to more than 9,500 companies, reported a 28 percent increase in its 2022 full-year net income, as revenue rose amid the continued growth of the emirate’s economy.

Profit for the 12-month period to the end of December climbed to about Dh726 million ($198 million) from a year earlier, filing on Friday to the Dubai Financial Market, where its shares are traded.

Revenue for the reporting period jumped 12 percent on an annual basis to Dh1.97 billion, driven by higher occupancy levels, stronger customer retention rates, and an increased in the number of new customers across the portfolio.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by an annual 15 percent to Dh1.35 billion.

The EBITDA margin expanded to 68 percent in the 2022 financial year, from 66 percent in 2021, driven by improved revenue from all business segments and efficient management of operating expenses.