UAE. Dubai Investments (DI) has around AED 20 billion of projects
around the UAE and there is a plan to invest AED 1.5 billion (US$428
million) in the real estate sector, Managing Director and CEO Khalid
Bin Kalban said this week. He said the group would sign some agreements
this year related to these projects.
In a move to enhance shareholder value, DI will develop individual
businesses and unlock shareholder value by divesting through private
placement or IPO every financial year. In line with this policy, DI
intends to divest part of its interest in M'Sharie, the private equity
arm of the group.
DI currently has a land bank of 120 million square feet, which will enable it to launch a series of projects in the future.
Further strengthening its commitment to the development of the
Emirate of Ajman, Dubai Investments has been participating in the Ajman
Urban Planning Conference (AUPC) 2008 recently, under the patronage of
HH Sheikh Humaid Bin Rashid Al Nuaimi, Member of the Supreme Council
and the Ruler of Ajman.
DI's stand at the exhibition showcased
its latest projects with particular focus on its upcoming AED 14
billion worth mixed-use flagship project in Ajman. Prestigious projects
undertaken by Dubai Investments Real Estate (DIRC) and Al Taif
Investments were highlighted.
“In line with the vision of the government of the UAE, DI has, since
its inception in 1995, continuously endeavored to support industries in
the region while growing its investment portfolio. Comprising 46
companies in diversified sectors, DI’s presence today spans practically
the entire business, industrial and real estate spectrum”, said Khalid
Kalban.
“With certain natural advantages to its benefit such as a strategic
geographical location, availability of essential raw materials, lower
costs and excellent infrastructural facilities, Ajman has proved to be
an ideal location for investment. Ajman’s annual investment growth rate
stands at an average of 6.7%. Statistics recently released by the Ajman
Chamber of Commerce and Industry have revealed that the emirate has
attracted the highest foreign investments into the country. DI has
important plans in place to be an integral part of the success story of
Ajman”, Kalban added.
Designed to serve as a self-sustaining mutli-purpose project, DI’s
Ajman project will comprise of commercial, residential and recreational
areas linked by a well-planned transportation network that will
facilitate easy travel within the project.
The development will house a shopping mall, 4 star and 5 star
hotels, hotel apartments and a specialised hospital. Designed on the
lines of a green project, the development will have a lake at its
centre and lots of green spaces within, providing residents the
opportunity to reside in a clean environment with excellent facilities
for sports and recreation. Scheduled to be completed by 2015 or 2016,
the project will be situated on Emirates Road, between the Emirates of
Ajman and Sharjah.
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