Dubai – Mubasher: Dubai Investments Company announced plans to invest more than AED 5 billion in the next three years and enter new markets in 2017, the company’s CEO, Khalid Bin Kalban, told Mubasher on Wednesday.
“The New Year is going to be eventful given the large number of investment opportunities earthier inside the United Arab Emirates or abroad, as well as the prospected completion of Riyadh Investments Complex, which is being built on 11 million square meters and worth AED 1.5 billion,” the CEO said.
Bin Kalban stated that his company is now considering partnership offers by some entities from many countries to transfer the complex experience to their markets, like Angola and Morocco.
He added that Dubai Investments intends to divest a subsidiary soon, and expected a capital gain of around AED 170 million.
The last divestiture made by Dubai Investments was in June 2015 when it sold 66% of its shares in Global Pharma for AED 450 million.
Bin Kalban also revealed that the company is planning for two new acquisitions, in UAE and Saudi Arabia, valued at AED 190 million, but he didn’t give more details about them.
