DHCOG reveals Dhs1bn loss

02 June 2010

Dubai Holding Commercial Operations Group (DHCOG), the parent company of Dubai Properties Group, Tecom Investments, and Jumeirah Group, has reported a net loss of Dhs1bn ($272m) for the year ending December 31, 2009, compared to a Dhs17.4bn net profit in 2008. Total revenue also fell by 28% to Dhs9.5bn from Dhs13.2bn in the previous year. Last year, the firm carried out a major re-alignment of its business, including the consolidation of its real estate businesses, Sama Dubai, Tatweer Dubai and Dubai Properties.

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