Dubai Investments
Dubai Investments HQ, DIP, in Dubai. Image Credit: Gulf News archives

Dubai: Dubai Investments, an investment company listed on the Dubai Financial Market (DFM), has announced a 12.5 percent cash dividend to shareholders for the financial year ending December 31, 2023.

The group reported profits attributable to the shareholders of Dh1,130.94 million for 2023 compared to Dh1,608.57 million in the previous year. The group reported higher profits of Dh502.79 million if adjusted for the one-off gain on disposal of controlling interest and fair value gain on retained investment in Emirates District Cooling LLC, amounting to Dh980.42 million in the previous year.

The profits are higher mainly due to the sale of real estate properties, increase in rental income, higher fair valuation gain on investment properties, fair valuation gain on investments and gain on sale of assets.

During his address at the company’s 28th Annual General Meeting (AGM), Dubai Investments’ Chairman Abdulrahman Ghanem Abdulrahman Al Mutaiwee highlighted the group’s robust growth trajectory for 2024, driven by significant developments in the real estate sector, including the group’s flagship Danah Bay project on Al Marjan Island, Ras Al Khaimah.

He emphasized the expansion of the group’s operations, noting upcoming developments and key endeavours like the DIP Angola project. Al Mutaiwee also emphasized Dubai Investments’ position in the financial sector through increased investments in Al Mal Capital and Al Mal Capital REIT, alongside the entry into digital banking with Monument Bank.