Shuaa closes 2025 in the black despite 3% revenue dip

Shuaa Capital swung to a profit last year on increased operational efficiency, the asset management and investment banking company said.

The company reported a net profit of AED156 million ($43 million), versus a 2024 net loss of AED274 million, driven by a strategic turnaround initiative and share capital increase via mandatory convertible bonds.

Operating revenue reached AED79 million, down 3 percent, the company said in a statement to the Dubai Financial Market.

Revenue came to AED18 million in the fourth quarter of 2025, compared to AED17 million a year earlier, driven by higher real estate management fees. The net loss for the quarter narrowed to AED42 million, from AED135 million in the fourth quarter of 2024.

Equity increased to AED554 million as of December 2025, compared to AED41 million at the end of 2024.

“During the year, the board and management team remained focused on stabilising the company’s balance sheet, resolving legacy challenges and repositioning the business for long-term sustainable growth,” chairman Badr Al-Olama said.

Group CEO Nabil Al Rantisi said Shuaa would focus on expanding its product offering and exploring opportunities in private markets, including the potential launch of private funds in the UAE and Saudi Arabia.  

In January the company said a UAE appeals court had upheld a first-instance ruling dismissing its damages claim against certain former executive directors. 

Shuaa Capital, founded in 1979, was once among Dubai’s most prominent investment banks but has undergone repeated restructurings since the 2008 financial crisis.

The stock was trading 0.5 percent lower at AED0.195 on Wednesday.

Direct Access Investment owns 15.1 percent of Shuaa.

Further reading:

• Shuaa gets new CEO to drive expansion and increase revenues
• Shuaa Capital sues former executives for $70m over losses
• Shuaa in profit for the year despite third-quarter dip