Dubai – Mubasher: Eshraq Properties, listed on the Abu Dhabi Securities Exchange (ADX), on Wednesday announced that it has changed its name to Eshraq Investment after getting the shareholders’ approval during a general meeting held on 11 February.

The Abu Dhabi-based real estate developer unveiled its new corporate logo and a refreshed website that elevates the company’s corporate identity, according to the firm’s statement.

“The new identity, which is an organic progression from its earlier identity, reflects Eshraq’s growth as a company and aptly represents its current market position as well as its future aspirations,” Jassim Alseddiqi, chairman of Eshraq, commented.

The new brand includes a major re-design of the company’s website, logo, graphics, communications and correspondence.

On the other hand, Eshraq said it is working on developing a residential tower “Marina Rise” in Reem Island, Abu Dhabi.

The tower is expected to be completed by the second quarter of 2020, the company added, giving no further details on its cost.

During the nine-month period in 2018, the Abu Dhabi-listed firm reported a 7% year-on-year increase in profits to AED 28.2 million, compared to AED 0.7 million.

By 01:10 pm UAE time, Eshraq Properties’ stock rose 1.89% at AED 0.43.