Tamweel announces net profit of AED 108 million for first half of 2007

Tamweel PJSC, the largest provider of real estate finance in the UAE, today declared its financial results for the first half of 2007.

Sheikh Khaled bin Zayed bin Saqer Al-Nehayan, Chairman of Tamweel, announced that the company's net profits in the first half of 2007 reached AED 108 million, an increase of 118 per cent compared to AED 49.58 million in the first half of 2006. Income from Islamic financing and investing assets in the first half of 2007 rose to AED 100.3 million, an increase of 98 per cent compared to AED 50.8 million in the first half of 2006. Islamic financing and investing assets in the first half of 2007 rose to AED 3.47 billion, an increase of 65 per cent compared to AED 2.11 billion in the first half of 2006. Source