Dubai Investments marks 25th anniversary, pledges to channelise resources to key sectors
Dubai Investments celebrated its silver jubilee anniversary, marking 25 years of investments in the region, with a bell-ringing ceremony at the Dubai Financial Market (DFM).
The bell ringing ceremony was attended by Abdulrahman Ghanem Al Mutaiwee, chairman of Dubai Investments; Khalid bin Kalban, vice-chairman and CEO of Dubai Investments; Essa Kazim, chairman of the DFM; and Khalifa Rabba, deputy division head of operations at the DFM.
Dubai Investments is among the DFM's most actively traded companies with a total value of Dh169 billion since listing, composing of 1.2 million trades of 47 billion shares, as of the end of June 2020.
Kazim said: "We look forward to strengthen our relationship with Dubai Investments and enable it to continue availing the numerous benefits of DFM listing including the linkage with our large and diversified investor base that exceeds 845 thousand investors and embracing international best practices of disclosure and transparency, corporate governance and investor relations, which creates value for its shareholders."
Bin Kalban said: "Over the last 25 years, Dubai Investments has significantly raised shareholder and investor value through sound and visionary policies for establishing strategic investments, executing successful acquisitions and profitable divestments. Focusing on diversified investments by engaging in prudent investments, targeting diverse sectors and strategically-focused investments and services both locally and internationally, form part of the company's long-term goals."
"As part of the company's future strategy, Dubai Investments will channelise the resources towards investments in youth, artificial intelligence and sustainability, identified as the three major pillars governing the company's investments and businesses in the future. These pillars will lead Dubai Investment's responsible investments across various sectors, constituting future value-adds and will continue to diversify investments locally and internationally which were and still are a guarantee for the risk allocation, integration of vision and the economic structure of Dubai Investments," he added.
With 25 years of strategic investments, a robust business model backed by strong partnerships with government agencies and private companies and with 16,502 shareholders, Dubai Investment's value of shareholders' equity has recorded a growth from Dh650 million at inception to Dh12 billion as of December 2019 with Dh6.59 billion distributed as total cash dividends and bonus shares. The company has recorded an accumulated net profit of Dh14.5 billion with a 21 per cent return on investment over the last 24 years.
Recording a growth in paid-up capital from Dh650 million to Dh4.25 billion, the company's total assets grew from Dh718 million since inception toADh21 billion as of December 2019. The company has been focusing on a steady growth in assets with strategically planned business exits. The company witnessed a growth in total turnover from Dh68 million to Dh2.9 billion for the year ended December 31, 2019.