Dubai-Mubasher: Khalid bin Kalban, managing director of Dubai Investments, told Al Khaleej newspaper that his company is studying to acquire the majority stake of 51% in two companies - the first operating in the financial sector and the second in the real estate – with investments totaling AED 600 million.
“We plan to float the shares of the real estate company in the middle of 2016,” bin Kalban said.
He also pointed out that his company plans to invest more than AED 10 billion in the local real estate market in the next five years, AED 3.65 billion of which will go for four projects in the next year.
The company is also studying other diversified projects at a total value of AED 6.35 billion, and all of which will be focused on Dubai Investments Park.
Dubai Investments operates with authorized capital of AED 3.57 billion, divided into 3.57 billion shares at AED 1 par value each. Its market value reached AED 7.355 billion on Sunday, Dec. 14.
Photo Credit: Arabianeye-Reuters