01/07/2025 06:17 AST

The Dubai based finance company Amlak is exiting the real estate side of its business operations.

Shareholders on Monday (June 30) gave their approval for Amlak to sell its real estate financing portfolio in full. This would be done through 'various means', including the sale of its existing financing contracts to other institutions.

Amlak's stock on DFM has been one of the best-performing this year, up nearly 90% to Dh1.64.

Another option would be exit financing contracts that Amlak holds through mutual agreement with customers. And 'authorizing the Board of Directors to approve such transaction and offer discounts and waivers as may be deemed necessary to undertake such transactions," said a statement.

Incidentally, Amlak was set up as a home finance company when Dubai's property market was going through its first freehold boom in the mid-2000s.

Accumulated losses are under control
Amlak had losses totaling Dh2.3 billion by end 2020, and which was then reduced to Dh258 million by end 2023.

"In 2024 and during period ended 31 March 2025, Amlak reclassified foreign currency translation reserve losses of Dh96 million and Dh242 million, respectively, to accumulated losses upon repatriation of funds from its subsidiary in Egypt to UAE," the company had said recently.

In parallel, Amlak struck an agreement with financiers on a re-payment agreement. The plan is 'settle outstanding obligations by 2026 through the planned sale of some assets'.

One of these assets would be land in Ras Al Khor to Emaar, which would fetch close to Dh3 billion.

The shareholders' meeting on Monday also approved the transfer of the balance of Amlak's legal reserve and the special reserve - totaling Dh307.39 million and Dh99.26 million - to offset the accumulated losses partially.

In the recent past, DFM-listed Deyaar and Gulf Navigation had taken decisive steps to write off legacy losses. What emerged were operationally and financial sound companies.


Gulfnews

Amlak Finance to distribute $200m cash dividends for FY2025

23/04/2026

Dubai-listed Amlak Finance has announced that it has secured the investors' approval at the company's Annual General Meeting (AGM) for distribution of cash dividends worth AED735 million ($200 millio

Trade Arabia

Land bank sale, divestments boost Amlak's 2025 profit to Dh1.47 billion

10/03/2026

Real estate financier Amlak Finance reported a net profit after income tax of Dh1.47 billion in 2025, compared to Dh12 million in 2024. Total income for the financial year 2025 surged to Dh3.12 billi

Khaleej Times

Amlak Finance net profit jumps to $400m in 2025

09/03/2026

Amlak Finance has reported a net profit after income tax of AED1.47 billion ($400.7 million) for the year ended 31 December 2025, compared to a net profit of AED12 million for the same period in 2024

Trade Arabia

Ticker Price Volume
AMLAK.DFM Sector Market
P/E
Price/BookValue
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
IHC 385.00 -1.00 (-0.26%)
FAB 17.80 -0.24 (-1.34%)
EMIRATESNBD 30.80 -0.02 (-0.07%)
ADCB 15.04 -0.12 (-0.80%)
ADIB 21.40 -0.12 (-0.56%)
Takween Advanced Industries Unveils Capital Restructuring Plan

24/06/2026

Takween Advanced Industries (Tadawul: 1201) has announced that its Board of Directors, in a meeting held on June 23, 2026, resolved to recommend a significant restructuring of the company's capital.

Borsatalkhaleej

NBK's exclusive offer for new Jawhara customers: KD 50 and a chance to become a millionaire

24/06/2026

National Bank of Kuwait (NBK) has launched an exclusive offer for new customers, enabling them to open an Al-Jawhara account seamlessly through the NBK Mobile Banking App, without the need to visit a

Kuwait Times

Action Energy Co appoints KIC as market maker to enhance share liquidity

24/06/2026

Action Energy Company KSCP. (listed on the Premier Market of Boursa Kuwait: ALFTAQA), Kuwait's leading local partner for integrated upstream services, owner and operator of one of the youngest rig fl

Kuwait Times

Dana Gas gets Egypt dues cleared after new gas find beats forecast

24/06/2026

Dana Gas said Egypt has settled all overdue receivables and returned to full, timely payments, giving the Sharjah-based natural gas company fresh confidence to continue investing in the country after

Gulfnews

OQEP signs amendment to Block 9 agreement to boost oil output, reserves growth

24/06/2026

OQ Exploration & Production (OQEP) has signed an amendment to the Exploration and Production Sharing Agreement (EPSA) for Block 9, a move aimed at increasing operational activity, supporting producti

Muscat Daily