Dubai Investments to complete $300bn sukuk soonon May 12, 2013
Dubai Investments Company, the quoted investment firm whose portfolio includes the Dubai Investments Park and private equity investor Masharie, has said that the $300m (AED: 1.1bn) sukuk it is planning to raise should be finalised "in the coming quarter".
The firm's CEO, Khalid Kalban, said that it expected to finalise the deal after announcing a 97% increase in first qoarter profits to $29.1m (AED: 107m). Revenues also increased by 17% to $176.7m (AED: 649m), while the firm's net worth grew to $2.4bn (AED: 8.7bn).
“We are delighted to deliver solid growth in our Q1 profits," he said. "All sectors of our business are contributing, with real estate doing exceptionally well. The market sentiment is upbeat with overall growth in the economy providing good prospects for our diversified business base. We are closely monitoring the developments in the marketplace with a view to capitalize on available opportunities."
He added that the firm was "very excited" about its prospects for 2013 and said it was actively working on selling some assets.
- Macro wins international SCB contract
- IFC to oversee Masdar's solar project in Jordan
- Dubai’s new fire code to be announced next week
- UPS, Emirates sign grant agreement for road safety
- Doha Festival City set for opening in March 2017
- Bee’ah offers smart waste recycling products
- Challenge 22: Innovators hoping to be shortlisted
- Building renovations can save 50% of energy costs
- Dubai property transactions post $3bn in 15 days
- Dubai Properties delivers over 3,000 units in 2016