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“Dubai Investments”: 68% of its 22B AED assets are in real estate.

February 13, 2025

The Vice Chairman and Chief Executive Officer of Dubai Investments, Khalid Bin Kalban, stated that the company’s assets exceed 22 billion dirhams, including 15 billion in the real estate sector, 5 billion in financial investments, and around 2 billion dirhams in the industrial sector.

In an interview with “Al Arabiya Business,” he mentioned that the real estate sector was the main driver of the company’s revenues and profits in the fourth quarter. He noted that the UAE’s real estate market is experiencing an unprecedented boom across all emirates, not just in Dubai, and expects this boom to continue for at least two more years.

He also revealed future plans to establish residential and investment complexes similar to Dubai Investments Park, with announcements expected in the next two months.

He confirmed that the industrial sector has witnessed significant growth due to its strong connection with the real estate boom, as construction materials and contracting companies are experiencing extensive activity, which has positively impacted the company’s results.

Industrial Projects

He pointed out that the company plans to invest 1 billion dirhams, including the expansion of the flat glass factory in Abu Dhabi by adding a second production line at a cost of $150 million. Additionally, a new glass manufacturing project is underway in Saudi Arabia, where the company has acquired land for the factory and is currently working on its implementation. Furthermore, the expansion of Global Pharma, a pharmaceutical manufacturing company in Dubai, is also in progress.

Regarding the financing of these projects, Bin Kalban explained that real estate projects are self-financed, while industrial projects rely on a mixed financing model, with 30% from internal sources and 70% from bank loans.

Dividend Distribution

Regarding dividend distributions, Bin Kalban stated that the company plans to increase dividends for 2024 compared to the 12.5 fils per share distributed for 2022 and 2023. He noted that the final decision will be made by the Board of Directors in the coming weeks.

Bin Kalban revealed expansion plans worth 2 billion dirhams in the real estate sector within the UAE over the current and next year. He explained that while the projects are spread across all emirates, the company will focus on Dubai, where a residential and commercial tower is being developed, along with the expansion of the “Mirdif” project, which is currently underway. Additionally, there are other projects in Ras Al Khaimah, with some residential units set to be delivered after Ramadan.

He added that the company owns developable land and has four subsidiary real estate companies, including:

Dubai Investment Real Estate
Al Taif (a partnership with the Government of Fujairah)
Istithmar Real Estate

Financial Results

Dubai Investments recorded strong profit growth of 77% in the fourth quarter, while annual growth reached 7%.

Khalid Bin Kalban, Vice Chairman and CEO of the company, attributed this strong Q4 performance to the significant momentum in the real estate sector. However, he noted that the results were below expectations, impacted by several factors, including provisions for certain assets, compensation related to heavy rainfall in April last year— which caused work disruptions for up to three months in some companies— and the impact of corporate tax.

He added, “We hope that the surge in revenues and profits will continue through 2025.”