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Dubai Investments distributes 12% dividend
April 19, 2018
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Dubai: Dubai Investments, the leading, diversified investments conglomerate listed on the Dubai Financial Market, has decided to distribute 12 per cent cash dividend to its shareholders for the financial year ending December 31, 2017.

A proposal to this effect was approved by the shareholders at the Company’s 22nd Annual General Meeting (AGM) on April 18, 2018. The Company’s shareholders also approved all other resolutions presented by Dubai Investments Board of Directors.

The Company presented its 2017 financial results, which revealed a net profit of Dhs1,001.6 million for 2017. The Company’s profitability was in line with the previous year if the one-off gain from divestments amounting to Dhs186 million is excluded. Total assets increased by Dhs890 million to reach Dhs17 billion as of December 31, 2017.

At the AGM, Hussain Mahyoob Sultan Al Junaidy, Vice-Chairman of the Board of Directors of Dubai Investments, read out the Chairman’s Report highlighting the company’s growth.

Property business accounted for nearly 68 per cent of total assets and contributed 57 per cent to Company’s revenue, while manufacturing & contracting accounted for 16 per cent of total assets and contributed 42 per cent of its revenue. Financial investments represented approximately 16 per cent 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.”

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 Centre 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.

Meanwhile, Dubai Investments unveiled its new Corporate Logo and Brand Identity in line with its futuristic growth vision across the UAE, regionally and internationally.

The new logo and identity is part of the Company’s strategy to align its diversified business portfolio into different industry verticals – Real Estate; Direct Investments; Building Materials & Construction and Others, including Education and Healthcare sectors.

Khalid Bin Kalban, Managing Director and CEO of Dubai Investments, said: “Dubai Investments continues to invest in its capabilities to continue its success. The new identity builds on the company’s strong brand equity by integrating its businesses, highlighting the synergy across its subsidiaries and strengthening its uniqueness through enhanced value creation, aligned to its futuristic vision.”

He added: “Over the last 23 years, the company not only invested in diversified sectors but also unveiled innovative concepts and developed the businesses to build a strong portfolio. Now is the time for Dubai Investments to target new growth horizons by prioritising focus sectors as well as markets as part of its envisioned goal to become a global company.”

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