Waha Capital announces AED111mn profit in Q1

SourceEmirates Business
SectorFinancial Markets
CountryUAE

Abu Dhabi / WAM

Waha Capital on Tuesday announced its results for the first quarter of 2021. The company delivered an overall Q1 profit of AED 111 million as both the Public Markets and Private Investments businesses demonstrated robust performance, while the global economic outlook continued to improve due to Covid-19 vaccination efforts. According to financial statement, the public markets business maintained its strong track record of delivering returns and outperforming its peers in the Mena region, delivering Q1 profits of AED 139 million.

Waha Capital’s Islamic fund, which launched in August 2020, and invests in Shari’a compliant assets across sukuk and equity markets, produced a total Q1 return of 1.6 percent. The private investments business, which comprises a portfolio of assets across a range of sectors including healthcare, industrial real estate, financial services and fintech, energy, infrastructure and travel, delivered Q1 profits of AED 15 million. Waha Land which constructs, owns and manages industrial real estate projects in Abu Dhabi...read more...