By: Mahmoud Gamal
Dubai – Mubasher: Dubai Investments is looking forward to complete an exit transaction during the fourth quarter of 2017, CEO Khalid bin Kalban told Mubasher.
The company is conducting the necessary negotiations to evaluate the transaction which will be announced next month, bin Kalban added.
Last year, the firm exited its 100% stake in Marmum Dairy Farm and its distribution unit United Sales Partners. The overall impact of this exit on the company's income statement was a gain of AED 186 million.
Dubai Investments expressed its desire to purchase Union Properties’ (UP) stake in Emirates District Cooling (Emicool); yet, the offer was not accepted, bin Kalban noted.
Riyadh Investments Park is expected to be launched by the end of Q3 after launching a real estate investment fund with a capital of SAR 1.8 billion ($1.76 billion) to provide funding for the project and establishing a company to supervise the project.
The plan of establishing the Dubai Investments Park (DIP) in Angola is proceeding as planned, bin Kalban said, adding that a company was established to evaluate its land.
The company is searching for land plots in Morocco to start the DIP project.
Translated by: Julian Nabil
