Dubai Investments to decide on DIP IPO before May 15

Dubai Investments will decide before May 15 whether to go ahead with the IPO of its real estate business or push it to October, said Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments.

“We have been in contact with the banks that will lead the issue, as well as major investors participating in the offering. They are all very positive,” Kalban told Gulf News on the sidelines of Dubai Investments’ annual general meeting. “Our board will have to decide, hopefully by May 11, whether we proceed or postpone the IPO for another three months.”

Dubai Investments had announced last September that it will sell a 25 per cent stake in Dubai Investments Park (DIP), the 23-million-square-metre, mixed-use industrial, commercial and residential hub.

Impact of geopolitical tensions

As a diversified entity with presence in real estate, manufacturing, building materials, financial investments, healthcare, and education, Kalban said Dubai Investments was fairly insulated from the impact of geopolitical tensions.

“Dubai Investments is a local company with local investors with income coming from residents; it’s not affected by anything else,” he explained, expressing confidence in its ability to navigate difficult circumstances citing past experiences. “We are very safe and we have a track record of 30 years.”

25 per cent cash dividend

At the annual general meeting, Dubai Investments also announced a 25 per cent cash dividend for its 15,724 shareholders for 2025. This comes on the back of last year’s strong performance. The company recorded a profit before tax of Dh1.7 billion, a 31 per cent increase from Dh1.3 billion in 2024. Net profit after tax increased to Dh1.55 billion from Dh1.21 billion the previous year.

The group’s income rose to Dh4.63 billion. “During the year, Dubai Investments made progress across its core business sectors, including real estate, investments and manufacturing, while advancing regional expansion and pursuing selective investment opportunities aligned with its long-term strategy,” Kalban said. “But the major contributor, of course, was real estate. We sold a lot of units during the year and we improved a lot on our rental income.”

In fact, rental income increased to Dh1.19 billion, making up more than 25 per cent of the total income.

Construction continues as planned across all its projects, from Danah Bay apartments on Al Marjan Island in Ras Al Khaimah, to Violet Tower in Jumeirah Village Circle, Asayel Avenue at Mirdif Hills and Al Vista in Meydan. Deliveries are expected to start in the second half of this year and continue through 2028.