Although Dubai Investments’ nine-month profits fell from Dh759.6 million to Dh637 million, the operator of the industrial zone can take heart from the Q3-24 gains. The profit for the July–September period was Dh235.6 million, up from Dh209 million.
In the medium term, real estate will continue to be a significant investment attraction for the business. While its flasghip Dubai Investments Park continues to see sizable big-ticket deals, its resort project in Ras Al Khaimah is moving forward. Aldar of Abu Dhabi recently pledged to make its first logistics real estate investment at DIP in Dubai.
“The Group is encouraged by the dynamic momentum in the real estate sector, complemented by the improved performance of its investment portfolio,” said Khalid Bin Kalban, Vice-Chairman and CEO. “Dubai Investments will continue to monetize its real estate assets as part of the Group’s strategic objectives.”
Angola entry
The “geographical expansion efforts are also gaining momentum,” and the company has also been contracted to create an economic zone in Angola. The DIP Angola project, which “demonstrates Dubai Investments vision of establishing integrated hubs that catalyze economic and social progress,” has begun construction.
