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.
- Oman: $13m mall expansion to complete by 2016-end
- Saudi Authority forms committee to oversee MMG
- UAE's Eagle Hills' Belgrade project face protests
- Brexit to impact UK investments in UAE real estate
- KBW Investments partners with Greek consultancy
- Ashghal notifies roadwork closure and diversion
- Louis Berger announces appointment of new chairman
- Oman: PDO gets $4bn for new oil and gas facilities
- Aldar: 70% of Al Falah housing community occupied
- Abu Dhabi Ports, Agthia sign 25-year lease deal