Dubai-Mubasher: The UAE economy is well placed to maintain its stability despite the turmoil faced by the global economy, said Dubai Holding Vice Chairman and Managing Director Ahmad Bin Byat.
Bin Byat added that Dubai’s economy is expected to see a growth of 5% in 2015.
The group celebrated its tenth anniversary last year capping a decade of exceptional successes on its resilience and diversity.
Dubai Holding is one of Dubai’s major companies, with total assets exceeding AED 130 billion, thanks to its long-term strategy.
He pointed out that 60% of Dubai Holding’s revenue comes from recurring revenue streams.
Commenting on foreign investments, Bin Byat noted that Dubai Holding’s international investments stretch across six countries, including Tunisia, Morocco, Egypt, Malta, India and Greece.
Bin Byat went to say that the company is committed to fulfilling its financial obligations, the last of which is a £500 million loan that matures by January 2017.
He added that the current obligations do not constitute a challenge due to the group’s high solvency ratio.
