At the AGM, Hussain Mahyoob Sultan Al Junaidy, Vice-Chairman of the Board of Directors of Dubai Investments PJSC, read out the Chairman’s Report highlighting the Company’s growth.
Property business accounted for nearly 68% of total assets and contributed 57% to Company’s revenue, while manufacturing & contracting accounted for 16% of total assets and contributed 42% of its revenue. Financial investments represented approximately 16% of the Company’s total assets.
Elaborating on future prospects, the report said: “The Company’s outlook for 2018 is positive, with various real estate developments and exciting investments in the pipeline. The potential IPO of Dubai Investments subsidiary Emicool and a mixed-use Real Estate Investment Trust [REIT] through Al Mal Capital will provide additional investment opportunities to the shareholders, significantly enhancing Dubai Investments’ profile locally and regionally and creating value to shareholders.”
Highlights in 2017
During 2017, Dubai Investments continued to build on its leadership in the property sector. Dubai Investments Park [DIP] to generate sustainable income for the Company with increase in rental income, rise in sub-leasing contracts and surge in warehouse leases. Work on the ‘Mirdif Hills’ project by Dubai Investments Real Estate Company is continuing, Properties Investment is nearing completion of the Green Community West Phase 3 project in DIP and Al Taif Investment has commenced construction of the Fujairah Business Center project.
In the manufacturing sector, Dubai Investments glass business registered strong project wins in the UAE, Kuwait and Saudi Arabia.
Dubai Investments continued its focus in Education and Healthcare sectors, with MODUL University Dubai achieving strong growth. Dubai Investments has also tied up with Lebanon-based University of Balamand and is set to open its campus in Dubai Investments Park in September 2018.
Dubai Investments led a consortium of investors through Al Mal Capital to fully acquire Kent College Dubai campus. The Company announced its participation in Africa Crest Education to fund development of SABIS curriculum schools across Africa.
In the Healthcare sector, Kings College Hospital UAE has opened clinics in Abu Dhabi and Dubai. A 100-bed, multi-specialty hospital in Dubai Hills Estate is set for opening in Q1 2019.
In financial investments, Dubai Investments is leading a consortium of investors to launch a DIFC based wholesale Islamic Bank. Al Mal Capital also announced a partnership with Azimut to launch a UCITS MENA Equity Fund in Q2 2018.
About Dubai Investments PJSC:
Dubai Investments PJSC is a leading investment company listed on the Dubai Financial Market with over 19,800 shareholders and a paid-up capital of AED 4 billion. Incorporated in 1995, the company has grown exponentially with investments in a number of businesses across three core sectors – real estate, manufacturing & industrial and financial investments across the UAE and the Middle East.
Since inception, Dubai Investments has challenged the norms and introduced cutting-edge technologies, pioneering business models, unique investment strategies and innovative concepts across its diversified portfolio spanning different sectors and markets across the globe. Dubai Investments currently has 39 subsidiaries & joint ventures under its portfolio, across a wide array of industries and continues to seek new investment opportunities in new sectors, locally and internationally, as part of its strategic expansion plans.
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© Press Release 2018