DUBAI: Dubai Investments on Monday posted a 25 per cent jump in its first quarter net profit for 2018, to Dh362 million as compared to Dh289 million for the same period last year.
Khalid Bin Kalban, Managing Director and CEO of Dubai Investments, said the profit jump was driven by the “strategic acquisition of additional 50 per cent stake in Emirates District Cooling (Emicool).”
“The company has a strong pipeline of ongoing real estate developments such as Mirdif Hills and are also working on several other projects and transactions which will continue to enhance shareholder’s value. These include launching a multi-asset class REIT expected to be listed on the local market, IPO of Emicool and establishment of the campus of University of Balamand in Dubai. Further, the Group is also targeting investments in sectors related to financial services, education, healthcare and entertainment with a strategy of diversifying its asset base,” Kalban added.
The company’s portfolio includes 35 subsidiaries and joint ventures across a diverse range of sectors and continues to seek new investment opportunities, locally and internationally, as part of its strategic roadmap.