Abu Dhabi – Mubasher: Eshraq Properties' board said it has approved a number of new investment activities and added them to the firm's articles of association.

Following this addition, the board has also decided to change the company's name to "Eshraq Investments PJSC" to encompass the newly-added activities, it said in a filing to the Abu Dhabi Securities Exchange (ADX).

The board's decisions remain subject to approval by Eshraq's shareholders in an ordinary general meeting (OGM), which will be called for at a later time.

Eshraq last reported a profit surge of 1,828% to AED 13.5 million in the third quarter of 2018 from a year ago, while nine-month results showed a net profit rise of 7% year-on-year to AED 28.2 million.

In August, Eshraq chairman Jassim Al Sidiqi had projected that the firm would register around AED 40 million in profits in its full year 2018 results.