Dubai Investments posts 21% rise in 2024 profit, eyes growth opportunities
Image: Supplied
DFM-listed
The group's total income grew to Dhs 4.66bn, mainly driven by the sale of properties amounting to Dhs1.03bn due to strong demand for real estate projects and efficient execution of the Danah Bay project on Al Marjan Island in Ras Al Khaimah and higher rental income due to occupancy levels maintained in DIP and acquisition of additional assets in Al Mal Capital REIT.
Dubai Investments' total assets grew to Dhs22.10bn by the end of 2024, up from Dhs21.44bn in 2023. The group's equity attributable to owners stood at Dhs14.11bn.
With a net debt to total attributable equity ratio of 21.9 per cent, the group continues to maintain strong liquidity levels, underscoring the group's robust financial position and resilience across economic cycles.
In line with its commitment to delivering value to shareholders, the board of directors has proposed a cash dividend of 18 per cent (Dhs 0.18 per share) for the year 2024, reinforcing Dubai Investments' focus on enhancing shareholder returns while maintaining a strong financial position and sustainable growth trajectory.
Commenting on the full-year results, Khalid Bin Kalban, vice chairman and CEO of Dubai Investments, said: 'Dubai Investments' strong financial performance in 2024 has laid a robust foundation for sustained expansion and long-term growth. Dubai Investments remains focused on accelerating growth by actively evaluating investment opportunities across MENA and other regions, exploring strategic divestments, and assessing select group companies for potential IPOs. These initiatives align with the group's vision to enhance market presence, maximise shareholder value, and drive sustainable growth in the years ahead.'
Dubai Investments: Future outlook
The group will launch several mixed-use real estate projects in the UAE whilst remaining focused on the timely execution of projects in hand. The group anticipates strong growth and remains optimistic about the real estate sector.
The construction of the group's Violet Tower project is progressing steadily, supported by healthy off-plan sales and remaining on track for completion by Q4 2026.
A key priority is the continued expansion of the Al Mal Capital
With a long-term vision for impact-driven investments, Dubai Investments is strengthening its footprint in the healthcare, education, financial services, artificial intelligence, and business services sectors.
The group remains committed to nurturing and scaling investments in these essential industries, reinforcing its role in supporting community development and regional economic progress.
A disciplined approach to portfolio optimisation remains a priority. The group continues to monitor and reassess non-core assets to strengthen its market presence and drive sustainable growth in the years ahead.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
18 hours ago
- Zawya
Dubai Investments renews liquidity provider agreement with xCube
Dubai, UAE - Dubai Investments PJSC (DFM: DIC), a diversified investment group listed on the Dubai Financial Market, has renewed its agreement with xCube LLC to continue as the Liquidity Provider (LP) for its shares. Dubai Investments continues to pursue strategic initiatives that enhance shareholder value and market performance. The renewal of its partnership with xCube as Liquidity Provider reinforces this vision by ensuring improved tradability and confidence in the company's listed shares. Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments, commented: "Renewing the agreement with xCube reflects the Group's ongoing commitment to improving market liquidity and enhancing long-term shareholder value. Over the past year, we've seen a clear uplift in trading activity, which coupled with the Group's strong financial performance, has further increased investor confidence in our shares." Saad Chalabi, CEO of xCube, commented: "The renewal of our mandate with Dubai Investments reflects the effectiveness of disciplined, data-driven liquidity provision. We're proud to contribute to the stock's improved performance and remain committed to supporting market quality and investor confidence. About Dubai Investments Dubai Investments is a publicly listed UAE based multi-asset investment Group, managing a diverse portfolio of businesses, generating sustainable financial returns to its shareholders. Established in 1995, Dubai Investments is one of the leading investments Group in the UAE, initiating new businesses and partnering with dynamic entities, creating strategic investment opportunities across the region. With 15,956 shareholders, a paid-up capital of Dhs. 4.25 billion and total assets worth more than Dhs. 22 billion, the Group applies insight and experience to expand and be a reliable growth driver for businesses within sectors like real estate, manufacturing, healthcare, education, investments and services. The Group's diverse portfolio consists of wholly and partly owned companies and reflects the Company's continued focus on business diversification to drive growth in line with evolving industry trends. Focused on leveraging strengths with an interest in establishing existing and new business opportunities with a long-term, strategic and creative approach and with an emphasis on sustainable returns and capital growth, Dubai Investments collaborates on investment strategies meeting the changing needs of the economy and the societies in which it operates. Complementing the strategic objectives and creating value for stakeholders, the Group pursues growth through mergers and acquisitions and business expansions. To know more visit – About xCube LLC xCube is a leading market making and brokerage firm based in Dubai. As the largest market maker on the DFM, xCube also offers issuer services that support liquidity and enhance shareholder value. xCube brokerage provides an online securities brokerage app with access created to enhance the long-term health of capital markets by nurturing and empowering investors. With a commitment to inclusivity, our platform provides access to markets with no financial requirements at the touch of a button – simple, fast, secure and affordable for all.
Gulf Today
2 days ago
- Gulf Today
Dubai sells last two penthouses at Bulgari Lighthouse for Dhs282 million
Dubai's luxury real estate market continues to thrive, reinforcing the emirate's status as one of the world's strongest and most resilient high-end residential markets. Driven Properties has completed the sale of the final two penthouses at the Bulgari Lighthouse on Jumeirah Bay Island for a combined total of over Dhs 282 million. The first five-bedroom unit, spanning 11,657 square feet, sold for Dhs 146.6 million, while the second unit fetched Dhs 136.25 million. In April alone, Dubai recorded a staggering Dhs 62.4 billion in real estate transactions—a 95% year-on-year increase—largely fueled by demand for prime waterfront properties. Industry analysts anticipate that major deals will continue to set new benchmarks through 2025, driven by sustained demand and a limited supply of luxury residences.
Gulf Today
05-06-2025
- Gulf Today
ADFD's cumulative development financing hit Dhs216.5 billion, benefitting 107 countries
Abu Dhabi Fund for Development (ADFD) has published its 2024 Annual Report, showcasing its pioneering achievements in advancing strategic objectives aligned with the UAE's foreign aid policy. The report underscores the ADFD's vital role in supporting global sustainable development and enhancing the quality of life for communities worldwide. The report emphasizes ADFD's significant contributions to major national agendas, including the UAE Export Development Policy, UAE Centennial 2071, and Abu Dhabi Economic Vision 2030. These efforts are led by the Abu Dhabi Exports Office (ADEX), part of Abu Dhabi Fund for Development (ADFD), aimed at strengthening the global competitiveness of the UAE's industrial sector. By the end of 2024, ADFD's cumulative development financing reached Dhs216.5 billion, benefitting 107 countries across various continents. This total comprises Dhs 157 billion in concessional loans, Dhs 57.6 billion in government grants, and Dhs 1.9 billion in direct contributions. The financing supported strategic projects in critical sectors including renewable energy, infrastructure, such as housing, transportation, education, technology, and water security —helping to drive economic growth and improve quality of life in partner nations. ADFD remains committed to supporting the national economy and the long-term growth of Emirati companies, while enhancing their international reach. In this context, ADEX allocated Dhs 4 billion in financing by the end of 2024 to support UAE national exports, facilitating access to over 40 global markets. ADFD also prioritised the role of the UAE private sector, allocating Dhs 6 billion in financing, which benefitted 19 Emirati companies implementing strategic projects across 8 countries. From an investment perspective, the Fund saw robust growth, with total investments reaching Dhs 12.2 billion across 22 countries. ADFD currently invests in 17 companies across a range of sectors, helping to strengthen financial resources, stimulate key economic activities in partner countries, and create sustainable job opportunities for local communities. In a strategic reflection on the 2024 Annual Report, His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of ADFD's Board of Directors, said: 'Late Sheikh Zayed bin Sultan Al Nahyan believed that the essence of civilized progress is measured by the value of the individual and their good deeds, whose impact lasts a lifetime. This philosophy formed the foundation upon which Abu Dhabi Fund for Development (ADFD) was established in 1971, transforming it into a developmental institution that embodies the values of the UAE and a shining beacon spreading its sustainable impact around the world. President His Highness Sheikh Mohamed bin Zayed Al Nahyan, follows the same path, carrying forward a legacy of giving, and supporting the objectives of the Abu Dhabi Fund for Development, in a way that achieves global prosperity." Sheikh Mansour stated: 'The Fund plays an exceptional role in supporting the UAE's foreign aid policy, which is based on principles of development and achieving economic and social stability in developing countries. Additionally, it strengthens partnerships with international and regional organizations to establish a sustainable developmental impact, reflecting the UAE's position as a global force driving sustainable development.' Sheikh Mansour added: 'Based on its strategic vision, the Fund seeks to expand its operational activities and innovate sustainable solutions that contribute to the development of partner countries. It also continues supporting the national economy by providing innovative financing tools that empower UAE companies to expand and reach new markets.' Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Foreign Affairs, and Vice Chairman of ADFD's Board of Directors, stated: 'ADFD continues to achieve more milestones, using its developmental and economic tools to enhance the UAE's position regionally and internationally, solidifying its role as an active and influential global player. Thanks to the visionary of the leadership, the Fund has become a pioneering model in adopting a strategic approach to financing vital projects that create a lasting impact and contribute to supporting the developmental programs of developing nations to meet their aspirations and strengthen their infrastructure and economies.' Sheikh Abdullah added: 'In 2024, the Fund made exceptional efforts to help countries overcome their economic and social challenges, financing many major developmental projects with a sustainable impact in areas such as energy, water, infrastructure, education, , technology, food security, and other key sectors that contribute to supporting the Sustainable Development Goals and improving the well-being of people.' Sheikh Abdullah also emphasised: 'In addition to the sustainable development impact the Fund has achieved globally, it continues to play a vital role in supporting the national economy by enhancing UAE exports and developing the capabilities of local companies to compete in global markets. That contributes to achieving sustainable economic diversification, benefiting society as a whole.' On the release of the 2024 Annual Report, Mohamed Saif Al Suwaidi, Director General of ADFD, said: 'The achievements of ADFD are a testament to the UAE's unwavering commitment to sustainable development, a vision set forth by the founding father, Sheikh Zayed bin Sultan Al Nahyan. This foundation paved the way for ADFD to become a key partner of development in emerging countries and a significant contributor to building a prosperous and sustainable future for generations to come.' Al Suwaidi continued: 'Recent accomplishments reflect the steadfast support of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, whose visionary leadership serves as a beacon of inspiration. Equally, the guidance of H.H. Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of ADFD Board of Directors, has been instrumental in enabling ADFD to provide vital support, enhancing the quality of life for millions of people worldwide and playing a key role in the development of more advanced and resilient societies.' In a global recognition of its leadership, ADFD received the 2024 United Nations Small Island Developing States (SIDS) Partnerships Award in the economic category for its renewable energy initiatives in the Pacific and Caribbean islands. This is the first time the award has been granted to an institution from the Middle East and North Africa region. In a move that reflects its institutional development and forward-looking vision, ADFD launched its new corporate identity in 2024 under the slogan: 'Shaping the Future Together', reaffirming its commitment to the UAE's vision for supporting the 2030 Sustainable Development Goals and building a prosperous, sustainable future for people around the world. Building on decades of impact, ADFD is advancing its global development mission, guided by an integrated and adaptive strategy that reflects the UAE leadership's forward-looking vision and ambition to establish the Fund as a globally recognized national institution in development work and a key supporter of the national economy. Aligned with the UAE's foreign aid policy, the strategy emphasizes impactful development outcomes—both internationally and domestically—aimed at building prosperous, resilient societies for generations to come.
