Jan 30 2012 |
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UAE's Tamweel 4Q Net Pft At AED31M On Housing Market Stability
Monday, Jan 30, 2012
(This story was originally published Sunday.)
DUBAI (Zawya Dow Jones)-- Tamweel , an Islamic mortgage provider in the United Arab Emirates, on Sunday reported a fourth-quarter net profit of 31 million U.A.E. dirhams ($8.4 million), saying the domestic real estate market in 2011 showed signs of "increased stability."
Tamweel said fourth-quarter net profit jumped to AED31 million from AED8 million in the year-ago period. Its full-year net profit rose to AED102 million from AED 26 million in 2010. It attributed the profit increase to the introduction of new home finance products last year.
Shares in Tamweel ended 1% lower at AED0.640.
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
30-01-12 0357GMT
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