Dubai Holding's business group, Dubai Holding Commercial Operations Group (DHCOG) recorded a 24 percent increase in its net profit to around AED2.6 billion in the first half of the year.

Mohammad Abdulla Al-Gergawi, chairman of Dubai Holding, stated this while announcing the financial results of DHCOG, for H1, 2015 ending June 30.

DHCOG continued to see good operational progress with all businesses performing well and contributing to the group’s profitability. Net profit increased to around AED2.6 billion, up 24 percent from AED2.1 billion in the equivalent period last year, and it is expected to exceed AED5.5 billion for the financial year 2015.

Ahmad bin Byat, vice chairman and MD of Dubai Holding, said: “As Dubai gears up to become the most productive and innovative hub in the world, we have embarked on several initiatives to continue to develop strategic sectors vital to Dubai’s economy. Dubai Holding will continue to reinforce its successful strategy of investing in innovation, knowledge, technology, content and business clusters to support Dubai’s efforts in setting up advanced infrastructure, which in turn will attract top global talent.”