National Bonds CEO Muhammad Qasim Al Ali recently announced the launch of a savings fund aimed at private end-of-service benefits. The fund is expected to be launched in the second quarter of 2024, pending approval from relevant authorities such as the Ministry of Labor and the Securities and Exchange Commission. According to Al Ali, a survey conducted by his company showed that 82% of UAE employees were in favor of employers investing in their end-of-service benefits, targeting approximately 6 million employees.

In other news, National Bonds reported strong financial results for 2023, with their portfolio growing by 2% to 14 billion dirhams compared to the previous year. Sales also increased by 25%, reaching 6.4 billion dirhams. The value of distribution since its establishment has reached 2.9 billion dirhams, with over 758 million dirhams in prizes distributed among 1 million prize winners.

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

In addition to its investment arm, National Bonds also has a development arm called National Real Estate Company (NREC). During a press conference announcing their financial results for 2023, Al Ali announced that Tower A will be added to NREC’s income generating assets for leasing purposes after successful sales of all units in Tower B at “399 Hills Park” project. He also revealed plans to announce two new real estate projects with an investment value up to AED800 million and providing around 350 units soon.

Overall, it seems that National Bonds continues to perform well financially and is committed to expanding its offerings beyond just bonds and into real estate investments as well.

By Samantha Johnson

As a dedicated content writer at newspuk.com, I immerse myself in the art of storytelling through words. With a keen eye for detail and a passion for crafting engaging narratives, I strive to captivate our audience with each piece I create. Whether I'm covering breaking news, delving into feature articles, or exploring thought-provoking editorials, my goal remains constant: to inform, entertain, and inspire through the power of writing. Join me on this journalistic journey as we navigate through the ever-evolving media landscape together.

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