Dubai – Mubasher: Dubai Holding will not merge with other companies, Emirates News Agency (WAM) reported, citing the company’s chairman Abdulla Al Habbai as saying on Monday.
Speaking on the sidelines of the company’s board meeting, the top official said that the group will focus on repaying its previous debts and restructuring its business model to achieve progress to unprecedented levels, according to the agency.
The restructuring of the business model will help in achieving a stronger budget for the group so it will improve its financial capabilities and profitability, Al Habbai added.
Deputy ruler of the emirate of Dubai and vice president of the UAE Sheikh Maktoum Bin Mohammed Bin Rashed Al Maktoum reviewed Dubai Holding's future plans during the board meeting on Monday.
In February, Dubai Holding said it had paid the full par value of the bonds worth GBP 500 million, in addition to interest.
The UAE firm previously reported a growth of 8% in profits to AED 6.32 billion for 2016.
