GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share

Dubai, United Arab Emirates, 18 April 2019:  Dubai Investments PJSC [DFM: DIC], the leading diversified investments conglomerate listed on the Dubai Financial Market, has decided to distribute 10% cash dividend to its shareholders for the financial year ending 31 December 2018.

A proposal to this effect was approved by shareholders at the Group's 23rd Annual General Meeting (AGM) on April 17, 2019. The Company's shareholders also approved all other resolutions presented by Dubai Investments Board of Directors. 

The Company presented its 2018 financial results, which revealed a net profit of AED 651.4 million for 2018. Total assets of the Group increased by AED 2.55 billion to reach AED 19.6 billion as of 31 December 2018.

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 63% of total assets and contributed 38% to the Group's total income, while manufacturing, contracting and services accounted for 24% of total assets and contributed 55% to the Group's total income. Investments accounted for 13% of the Group's total assets and contributed 7% to the Group's total income. 

Highlights in 2018

During 2018, Dubai Investments continued to build on its leadership in the property sector. Dubai Investments Park (DIP) continued to generate sustainable income for the Company with an increase in rental income achieved from revisions in lease rates and lease of additional land. Dubai Investments Real Estate Company focused on Mirdif Hills, a mixed-use freehold development that comprises residential apartments, a hotel, service apartments, a hospital, and retail facilities, while Al Taif Investment is progressing well with the construction of Fujairah Business Center.

In the building materials sector, the Group focused on clustering its subsidiaries into one platform, offering a one-stop shop with a diverse and comprehensive range of products and services.

Dubai Investments continued its focus in Education and Healthcare sectors with MODUL University Dubai hosting its first graduation ceremony, while the University of Balamand Dubai welcomed students to campus in Dubai Investments Park for its first academic year in September 2018. The Group also acquired a significant stake in Africa Crest Education Holding which is targeting development of SABIS curriculum schools across Africa. 

In the healthcare sector, King's College Hospital Dubai, in which the Group holds a 26.75% stake, opened a 100-bed, multi-specialty hospital in Dubai Hills Q1, 2019. The Group also grew its healthcare portfolio through a 20% stake in Clemenceau Medical Centre which is due to open its facilities in Dubai Healthcare City in the second half of 2019.

In financial investments, Al Mal is in the process of establishing a mixed-use Real Estate Investment Trust (REIT) which will be listed on the financial market during Q2 2019. Dubai Investments is also finalizing the launch of a DIFC-based wholesale Islamic Bank licensed from the Dubai Financial Services Authority.

The Bank will offer a fully integrated range of competitive, Shari'a-compliant banking services and investment products with the core business lines of treasury, corporate banking, investment banking, and asset management.

The Group also divested its 50% stake in Dubai International Driving Centre at a gain of AED 21.1 million. It also assessed preliminary investor interest in a 30% private placement in Emicool.



Posted by : GoDubai Editorial Team
Viewed 5313 times
Posted on : Thursday, April 18, 2019  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : ASMAK eyes efficiency gains with investment in SAP's digital expertise
Next Story : 97% of Gemalto shares have been tendered to the Thales offer
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Tissot Introduces Chrono XL 3x3 Street Basketball Special Collection
Chloé Launches The New Cloud-shaped “rosie” Sunglasses
BYS COSMETICS Now in UAE
Max Mara Resort 2020 Collection
Saint Honore
Hackket's Bags of Style
Introducing the Swim and Beachwear Summer Collection from Marks & Spencer
VBQ-presskit-denim-70s Capsule
New Land Rover Defender Completes Tusk Testing to Support Lion Conservation in Kenya
Ministry of State for FNC Affairs Launches Forum Titled ‘Political Empowerment i...
Jaguar Land Rover & Bmw Group Announce Collaboration for Next Generation Electri...
Eberhard & Co. Alfa Romeo Limited Edition
Natural and gentle haircare essentials for your little ones from Fifi & Friends'
Rado Captain Cook Automatic Limited Edition with travel case'
OMEGA Rocket Engine - Introducing the Master Chronometer Calibre 3861
UAE and Oman bodies sign MoU to jointly promote Internal Auditing
Kickstart your summer workout with Ibn Battuta Mall's free indoor family Fun Run
Vincitore Realty sells out 108 homes in the Dh375 million Benessere project in j...
The Economic Times recognizes Malabar Gold & Diamonds as one of the Best Brands 2019
Britain's Greatest Test Driver, Norman Dewis Obe, Passes Away
Sony World Photography Awards Reveals New Categories for 2020 and Latest Sony Gr...
Electricity Most Searched Fuel Energy Term Online in UAE
Aston Martin Produces First Cars at St Athan
The Gucci Runway Makeup Looks for Cruise 2020
Historic Opening of Coca-cola Arena Gets the Seal of Approval From Thousands of Fans
Certina DS PH200M collection'
ZAAM Launches a spin on their iconic Polyhedron bag
Jennifer Lopez in Ralph Lauren
The SS19 Exclusive Edit From Etoile “La Boutique''
Backseat battles: kids driving their parents to distraction – and danger on the ...
CEO of Etihad ESCO, Ali Al Jassim's Statement on World Environment Day 2019
Empower launches summer campaign to reduce district cooling consumption for the ...
BMW Group and Jaguar Land Rover announce collaboration for next-generation elect...
Choose the perfect fragrance this Father's Day with Rasasi
Sharjah Chamber to Take Part in the 11th Edition of the World Chambers Congress ...
Dubai Cares supports 3-year teacher training program in Ghana to boost early chi...
Dp World, UAE Region's Strategic Solutions Boost the Automotive Sector
Dan Martin Returns to the Road to Lead UAE Team Emirates at the Criterium Du Dauphine
Resolution: Airlines Urge Governments to Adhere to Global Slot Allocation Guidelines
Ibn Battuta Mall Eid Al Fitr Celebrations
Constructsteel Conference to take place in the Middle East for the first time
Team Abu Dhabi award Cappellini new long-term contract
The Chaumet Garden of Earthly Delights
Emirates NBD highlights commitment to preserving marine biodiversity on World Oc...
Happy Father's Day with Tonda 1950 Skeleton
Musabih heads Dubai Customs delegation to WCO IT/TI Conference & Exhibition in A...
Long-term visa granted to Dr. Azad Moopen & wife
Jaquet Droz Unveils Its 2019 Novelties at Dubai Mall
Turkish Airlines added Strasbourg to the list of its destinations in France
Lukoil Marine Lubricants strengthens its collaboration with KOTC