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Dubai Investments focuses on diversification

UAE Business

Dubai Investments, a leading diversified investments conglomerate based in Dubai, UAE, plans to seek new growth opportunities in asset management, healthcare and education sectors.

The company expects this investment strategy to add around Dh20 billion ($5.445 billion) in assets over the next three to five years.

This was revealed at the the company's annual general meeting (AGM) held today (April 13).

The company posted a net profit of Dh1.1 billion ($299.48 million) for 2015, it said. The company had assets of Dh15.3 billion as on December 31, 2015, an increase of Dh800 million over 2014. For 2015, equity attributable to owners of the company reached Dh10.71 billion vs Dh10.11 billion for 2014.

The AGM approved a 12 per cent cash dividend to the shareholders.

Hussain Mahyoob Sultan Al Junaidy, vice-chairman of the board of directors of DI, read out the chairman’s report, highlighting the company’s success in delivering strong results despite difficult market conditions in 2015.

The company has been successful in building on its existing operations in property, manufacturing and contracting and financial investments, and is seeking new growth opportunities via diversification into new sectors of asset management, healthcare and education, he said.

Presenting an optimistic outlook for 2016, the report said: “Although the beginning of 2016 was challenging, conditions are improving gradually and we hope that there will be a progressive market improvement during the year. We plan to continue our commitment to diversify into new sectors, enhance our geographical footprint and continue to target new opportunities with a focus on increasing asset base, strengthening bottom line and improving operational efficiency.”

Highlights – 2015:
Dubai Investments continued with its drive to grow its property sector – the company’s main operating segment accounting for around 58 per cent of its total assets. Major milestones included an increase in its holdings of two significant Dubai joint ventures – Properties Investments  and Al Mujama Real Estate  – the latter which will result in Dubai Investments owning 100 per cent of the company.

The company’s manufacturing and contracting business also witnessed significant growth in 2015, driven by the increasing demand for building materials across the region. To meet this demand, Emirates Extrusion, a subsidiary of Masharie, the private equity arm of Dubai Investments, announced a third production line to increase capacity by 7,000 tonnes, while Dubai Investments Industries recently announced a new aluminum rolling plant in Abu Dhabi via a joint venture with Dubal Holding and Singapore-based MARS.

In line with the company’s corporate strategy of diversification and building long-term shareholder value, Dubai Investments entered the healthcare and education sectors in 2015 through investments in Austria-based Modul University’s first campus in Dubai and in London’s King’s College Hospital, with plans to open the multi-specialty King’s College Hospital Dubai in 2018, and a number of clinics in 2016 and 2017. - TradeArabia News Service

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