Dubai – Mubasher: Dubai Investments is likely to achieve profits of AED 1.6 billion in 2018 or 2019, according to the company’s managing director and CEO Khalid Bin Kalban.
The company’s profits are likely to be backed by return on foreign projects especially in Africa, Bin Kalban added in an interview with CNBC Arabia.
A project like the Dubai Investments Park (DIP) will be established in Angola with initial investments of not more than $20 million.
Dubai Investments will distribute higher percentage of cash dividends as compared to last year. The company paid cash dividends at 12% of its issued capital for 2015, totalling AED 486 million ($132.32 million).
There are plans to increase its assets from AED 16 billion at present to AED 20 billion in 2020, with its investments to be focused on the real estate, investment services and industrial sectors, the CEO added.
The company seeks to launch a new residential project worth AED 750 million in the Dubai Water Canal in April 2017, he said, adding that the project is scheduled to be completed within three years.
The Dubai-listed firm will carry out a AED 500 million new project in the industrial sector in Khalifa Industrial Zone, in addition to other small industrial projects worth AED 200 million.
To be offered in 2017, the initial public offering of the company’s district cooling unit Emirates District Cooling (Emicool) is valued at AED 3 billion.
