Dubai Holding to record $816m profits for 2013
Total assets of group at end of 2012 amounted to $23.5bn
Profits at Dubai Holding are expected to exceed $816mn (AED3bn) for 2013.
Speaking from the World Economic Forum, company chairman Mohammad Abdulla al-Gergawi labelled the results 'excellent'.
He told Al Arabiya News Channel: "Dubai Holding results were excellent in 2013. The profits in 2013 will double those of last year and will exceed AED3bn."
Dubai Holding is a global investment holding company with interests in 24 countries. Employing 15,000 people from 121 nationalities, it is managed through two business groups: Dubai Holding Commercial Operations Group (DHCOG) and Dubai Holding Investment Group (DHIG).
DHCOG develops and manages hospitality, business parks, real estate and telecommunications. Its four operating units are Jumeirah Group, TECOM Investments, Dubai Properties Group and Emirates International Telecommunications.
While DHIG oversees Dubai Holding’s financial assets, including investments and diversified financial services. Its operating units include Dubai Group and Dubai International Capital.
The total assets of the group at the end of 2012 amounted to $23.5bn (AED86.33bn).