Abu Dhabi – Mubasher: Manazel Real Estate has posted a 4.3% year-on-year profit hike during the fiscal year 2019.

The company’s net profit went up to AED 240.6 million last year, compared to AED 230.7 million in 2018, according to a bourse statement released on Thursday.

The Abu Dhabi-listed developer’s revenues surged to AED 946.85 million in 2019, from AED 809.27 million a year earlier.

In 2019, Manazel’s assets increased to AED 5.87 billion, against AED 5.49 billion in the year-ago period.