Abu Dhabi – Mubasher: Eshraq Investments reported accumulated losses of AED 994.096 million by the end of 2019, representing 42.76% of the capital, compared to AED 983.442 million in 2018.

The company has logged accumulated losses due to the cancellation of sales in 2014, as well as the reevaluation of current investment properties and investment properties under development from 2014 to 2019, according to the company’s disclosure to the Abu Dhabi Securities Exchange (ADX).

In 2016, the company’s losses reached AED 504.1 million, driven by the fair value reevaluation process.

To reduce the accumulated losses, the company have set a strategy of efficient and profitable distribution of capital and expanded its focus from a pure real estate developer to an investment company with real estate assets.

It is noteworthy to mention that in 2019, the company saw AED 10.652 million net losses, against net profits of AED 3.03 million in 2018.