Abu Dhabi – Mubasher: Emirates Driving Institute on Monday announced that it acquired a residential building in Saadiyat Island for AED 176 million ($47.9 million).

The acquisition was part of the company’s plan to diversify its investments, the company said in a bourse statement.

The company showed a 26.65% decline in its net profits in the second quarter of 2017 to AED 22.3 million as compared to AED 30.4 million in the year-ago period.