The company is committed to becoming a leading GCC investment company focused on direct private equity exposure, with a portfolio complemented by investments in income-generating assets. Over the next five years, management plans to build up private equity exposure as part of a major strategic reset.
Cyborg Score Rationale
The company incurred net losses valued at AED 677.37 million in 2024, up year-on-year from AED 545.10 million. In H1-25, accumulated losses hit AED 484.85 million and Q1-25 net losses were AED 27.03 million. Financial distress and significant accumulated losses present material challenges despite strategic repositioning efforts.
Top Insights
Strategic pivot: Actively transitioning from traditional real estate holdings toward direct private equity model with new governance framework
Financial stress: Accumulated losses of AED 484.85M (~18% of capital) as of H1-25, indicating balance sheet deterioration
Recent activity: Sold Al Reem Island assets for AED 264M and pursuing Shine SPV acquisition to expand private equity exposure
Board refresh: New leadership (Fahad Al Qassim as Chairman) and experienced board members (PwC Senior Advisor) signal operational improvements
Named Competitors
Real Estate & Investment Management — UAE-based luxury real estate and diversified investment company
Investment & Private Equity — Leading UAE property developer with diversified investment portfolio
Regional Investment Company — Abu Dhabi-based sovereign wealth fund with broad investment mandate
Recent Developments
(September 2025) Eshraq Investments acquired Shine SPV holding offshore support vessels for regional/global expansion
(September 2025) Divested Al Reem Island land for AED 264 million to Blue Lake Properties and Al Ain Properties
(May 2025) H1-25 results showed accumulated losses of AED 484.85 million and ongoing portfolio optimization
(2024) New Board appointed including Fahad Al Qassim as Chairman and Jacques Fakhoury for strengthened governance
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