{"id":44113,"date":"2017-02-14T22:49:52","date_gmt":"2017-02-14T15:49:52","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=44113"},"modified":"2017-02-14T20:00:13","modified_gmt":"2017-02-14T13:00:13","slug":"manazel-real-estate-profit-rises-16-in-second-half","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/manazel-real-estate-profit-rises-16-in-second-half\/","title":{"rendered":"Manazel Real Estate profit rises 16% in second half"},"content":{"rendered":"


\nManazel Real Estate reported a 16 per cent rise in profit during the second half of 2016, following a company-wide restructuring exercise and high take-up of its Al Reef 2 project.The Abu Dhabi-based real estate developer on Tuesday registered profits of Dh175.3 million for the second half of 2016, compared with Dh150.7m for the same period in 2015, according to calculations made by The National.Manazel said that profits for the year rose 5.6 per cent to Dh206.5m during 2016 in a statement on the Abu Dhabi stock exchange, which did not provide quarterly or six month breakdowns. The developer’s profit declined 30.5 per cent during the first half of the year thanks to a company reorganisation and higher staff costs.Revenues for the year rose 1.2 per cent to Dh749m, as it reported the sale of 90 per cent of the Al Reef-2 project, which is due to begin deliveries later this year.Manazel said earlier this month that it was planning to launch a tourism project in Ghantoot on the border with Dubai. The as-yet unnamed project is in the licensing stage, according to chairman Mohamed Al Qubaisi, and will be fully announced at Cityscape Abu Dhabi in April. \u200b__________________________________Earnings reports<div class=”embedObjects”><img src=”http:\/\/www.thenational.ae\/assets\/otherimages\/bz15-embed.jpg” alt=”embed” width=”475″ height=”267″>Dana Smillie for The National<\/div>\u25a0 Aldar fourth-quarter profit dips 1 per cent amid ‘softer operating market’\u25a0 Quarterly profit slips 9% for Amanat Holdings\u25a0 Damac Properties’ fourth-quarter net profit rises 1.3%\u25a0 Drake & Scull’s 2016 net loss narrows to Dh787 million\u25a0 Emaar Properties fourth-quarter net profit up 56%\u25a0 Union National Bank’s fourth-quarter profit rises 29%, missing forecasts__________________________________jeverington@thenational.aeFollow The National’s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Manazel Real Estate profit rises 16% in second half<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Manazel Real Estate reported a 16 per cent rise in profit during the second half...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-44113","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-btv","jetpack-related-posts":[{"id":11420,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-developer-manazel-real-estate-approves-bonus-share-after-29-profit-rise\/","url_meta":{"origin":44113,"position":0},"title":"Abu Dhabi developer Manazel Real Estate approves bonus share after 29% profit rise","date":"April 26, 2016","format":false,"excerpt":"\r Manazel Real Estate shareholders approved the distribution of a 4 per cent bonus share after the Abu Dhabi developer reported a 29 per cent rise in full year profits to Dh195 million.The developer said the growth in earnings was driven by a restructuring strategy started in 2014. Revenues were\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23069,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/manazel-first-half-profit-weighed-by-reorganisation-and-staff-costs-at-abu-dhabi-developer\/","url_meta":{"origin":44113,"position":1},"title":"Manazel first half profit weighed by reorganisation and staff costs at Abu Dhabi developer","date":"August 16, 2016","format":false,"excerpt":"\r Company reorganisation and staff costs ate into first half profits at Abu Dhabi-based property developer Manazel Real Estate.For the six months of 2016, profits at the developer which built Abu Dhabi's mid market Al Reef compound fell 30.5 per cent to Dh31.2 million, down from Dh44.9m a year earlier.In\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4795,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-based-manazel-real-estate-reports-29-per-cent-profit-hike\/","url_meta":{"origin":44113,"position":2},"title":"Abu Dhabi-based Manazel Real Estate reports 29 per cent profit hike","date":"February 15, 2016","format":false,"excerpt":"\r \r Abu Dhabi-based developer Manazel Real Estate saw its net profit increase by 29 per cent to Dh195 million in 2015, despite posting flat revenues of Dh740m.The company said that profit increased following a restructuring of its operations, which began in 2014, and through diversification efforts to create more\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11442,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-developer-manazel-real-estate-approves-bonus-share-after-profit-rise\/","url_meta":{"origin":44113,"position":3},"title":"Abu Dhabi developer Manazel Real Estate approves bonus share after profit rise","date":"April 26, 2016","format":false,"excerpt":"\r Manazel Real Estate shareholders approved the distribution of a 4 per cent bonus share after the Abu Dhabi developer reported a 29 per cent rise in full-year profit to Dh195 million.The developer said the growth in earnings was driven by a restructuring stra\u00adtegy started in 2014. Revenues were flat\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":43381,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/manazel-plans-major-tourism-project-in-ghantoot\/","url_meta":{"origin":44113,"position":4},"title":"Manazel plans major tourism project in Ghantoot","date":"February 8, 2017","format":false,"excerpt":"\r Manazel, the property company that built Abu Dhabi's mid-market Al Reef development, said that it plans to press ahead with a tourism venture in Ghantoot on the Dubai border. In a statement to the Abu Dhabi bourse, Manazel said yesterday that it was preparing to launch a tourism project\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":52009,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/manazel-makes-further-cuts-to-planned-jordan-development\/","url_meta":{"origin":44113,"position":5},"title":"Manazel makes further cuts to planned Jordan development","date":"April 16, 2017","format":false,"excerpt":"\r Abu Dhabi-based Manazel Real Estate said it has reduced for the second time the number of homes in its long-awaited housing project in Jordan, its first outside the UAE, because of \"market feedback\". In a statement to the Abu Dhabi bourse, Manazel said it will be marketing 1,253 apartments\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/44113"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=44113"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/44113\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=44113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=44113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=44113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}