“National Bonds” plans to introduce a savings fund for “end of service” benefits

In a press conference to announce the financial results for 2023, National Bonds CEO Muhammad Qasim Al Ali reported that the company’s portfolio grew by 2% to 14 billion dirhams compared to the previous year. Sales also increased by 25%, reaching 6.4 billion dirhams. The value of distributions since the establishment of National Bonds reached 2.9 billion dirhams, with 219 winners of the Million Dirham Prize receiving a total of 758 million dirhams in prizes.

Al Ali attributed the strong performance of National Bonds in 2023 to a growing awareness among citizens and residents about the importance of saving, especially after the Covid-19 pandemic. The number of new investors increased by 215%, monthly savings by 122%, and women’s participation in savings programs by 87%. The highest annual investment return for clients was recorded at 5.84%.

The real estate development and investment arm of National Bonds, the National Real Estate Company, also announced success in Tower B of the “399 Hills Park” project as they sold all units. Tower A will be added to their income-generating assets for leasing purposes. Additionally, two new real estate projects with an investment value of up to 800 million dirhams are set to be announced soon, providing

By Aiden Johnson

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