Abu Dhabi National Takaful Company signs deal to buy commercial real estate in Dubai

The value of the transaction represents 5.79% of the ADNTC's capital

  
General view of Abu Dhabi, United Arab Emirates, January 3, 2019. Image used for illustrative purpose.

General view of Abu Dhabi, United Arab Emirates, January 3, 2019. Image used for illustrative purpose.

REUTERS/ Hamad I Mohammed
Abu Dhabi –  Abu Dhabi National Takaful Company (ADNTC) has inked an agreement to purchase commercial real estate in the Regal Tower in Business Bay in Dubai at a total value of AED 5.798 million.

The value of the transaction represents 5.79% of the ADNTC's capital, according to the company's disclosure to the Abu Dhabi Securities Exchange (ADX) on Thursday.

The company has bought the commercial floor, spanning over 6,443 square feet, to be its branch in Dubai.

It is noteworthy to mention that in 2020, the company's net profits of ADNTC jumped to AED 78.396 million, compared to AED 72.655 million in 2019.

Source: Mubasher

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