As we wrap up the 2nd quarter of 2023, Dubai Investments continues to maintain consistent performance, fueled by the Group’s strategic initiatives and the ability to capitalize on key opportunities. The Group announced a 55% percent increase in Q1 2023 net profit to AED 314.45 million.
As an investment company, the Group is always focused on identifying new opportunities and optimizing the portfolio while actively pursuing strategic exits and investments in various businesses. One area that has particularly caught attention is the real estate sector, which has experienced a significant resurgence in recent times. Dubai Investments’ Danah Bay project in Ras Al Khaimah has emerged as a key driver of growth for Dubai Investments. The project has garnered substantial interest and traction in the emirate, attracting investors globally.
The 2nd quarter has also been abuzz with the UAE government’s initiative to support the UAE’s economic diversification strategy and the country’s efforts to enhance the competitiveness of national industries through the “Make it in the Emirates” campaign. Dubai Investments’ strong presence across diverse manufacturing sectors and the Group’s pivotal role as an economic powerhouse has strengthened the Group’s position as a trusted partner and catalyst for continued growth.
Dubai Investments’ progress made in advancing and integrating Environment, Social and Governance (ESG) into all business areas, is something that is worth highlighting and is clearly outlined in the Group’s 2022 Sustainability Report. The Group has doubled reduction in Total GHG emissions with 32% in 2022. The impressive results demonstrate the Group’s commitment to sustainable business practices developed in accordance with the latest Global Reporting Initiative (GRI) Standards and highlight ESG as a crucial component of the Group’s corporate philosophy, capable of creating sustainable long-term value and secure financial returns.
Together, let us continue to embrace the rest half of the year with enthusiasm and determination, scaling new heights, and delivering unparalleled value.
Khalid Bin Kalban
Vice Chairman & CEO
Danah Bay, Al Marjan Island Phase 1 in Ras Al Khaimah fully sold out
Dubai Investments through its diverse subsidiaries like Emirates Extrusion Factory, White Aluminum Factory, Globalpharma, Emirates Building System, Emirates Extruded Polystyrene, Emirates Float Glass, and Emirates Glass participated at the “Make it in the Emirates” Forum
Dubai Investments announced an enhanced board at AGM 2023. Total no. of board members now increased from seven to nine and a new female board member added
A business professional who continues to extend his diverse skill sets across a wide range of sectors and is currently serving as the Managing Director and Director at Sharjah Insurance Co. AlHosani plays a crucial role in overseeing the strategic direction and overall operations of the company
A business professional with extensive experience and expertise in the industrial sector, particularly in supply chain management. Since April 2022, AlAli has held the position of board director at National General Insurance (NGI). In addition to her board role, she serves as a member of NGI's audit, risk, and compliance committee
A business leader with a strong presence within the corporate landscape. Since 2022, Alkhazraji has served as a Board Member of National General Insurance PJSC. He has also been a Board Member of Al Mal Capital REIT since 2021 and in 2020, he was appointed a Board Member and Managing Director for Belhasa International Company LLC
Accepted an invitation from Al-Hafez to celebrate their 50 Years Anniversary, acknowledging the historical partnership to enhance the quality of life for patients in Kuwait. Dr. Mariam Galadari, received the trophy from Al-Hafez management
Basem Albarahmeh, General Manager, Globalpharma presented on company's 25 years journey and participated in a panel discussion as part of the 'Overview session for the Industrial Partnership for sustainable economic development between UAE at the “Make it in the Emirates” Forum
Recently launched CG21, an herbal mixture of cloves and costus, used as an antioxidant, analgesic, anti-inflammatory, and for improving liver health
Successfully registered Ruset, fixed-dose combination tablets for treating patients with high-risk cardiovascular diseases.
Celebrated Quality Day, recognizing quality champions and promoting a culture of quality
Published the 3rd edition of the Good Manufacturing Practie (GMP) Trend Bulletin 2023, covering the latest news, topics, and updates from the quality landscape across the globe
Installed a Dedicated Air Handling Unit (AHU) for Quality Control -Penicillin lab to avoid cross contamination and adhere to Good Manufacturing Practice (GMP) for producing consistent quality products
Began the Industry 4.0 maturity assessment last year and received a concise overview of Siemens' Digital Transformation Accelerator model recently
Provided an internship program for pharmacy students from HCT and Fatima College
Conducted training for new joiners to the Sales Team in UAE, KSA, Oman & Bahrain, providing them with comprehensive Medico-Marketing training
Established a partnership aimed at enhancing and establishing presence in the Saudi market, enabling more patients access to high-quality medications at affordable prices
Grew faster than the market by 64% in the UAE and 49% in KSA on Moving Annual Total (MAT) March
Announced annual dividend payout of 2.5% for the Financial Year Ended 31st December 2022
Earned the prestigious title of "Middle East Top Independent Asset Manager 2023" by the Citywire Middle East publication
Janayen and Nasayem of Mirdif Hills project fully sold out, and Multaqa at an occupancy rate of 89%
Organized a delightful Eid celebration for the residents and visitors of Mirdif Hills
Hosted a vibrant weekend market spread over a month, offering an enjoyable experience at Mirdif Hills Avenue for both residents and visitors
Several retail outlets operational with the opening of a supermarket coming soon
New office spaces being rented steadily in shell and core
Implemented an LED lights retrofit project, resulting in an annual energy savings of 700,000 KWH
Commended the efforts of Delta Hotels by Marriott in DIP, transforming a part of its terrace into a fruitful garden, allowing them to cultivate fresh produce for their guests
A range of E-Services are offered to businesses and individuals in a convenient online platform to access services such as NOC applications, bill payments, and facility leasing
NMC Royal Hospital extension opens in DIP with 51-beds spanning an area of 125,000 square feet
15th DIP Corporate Sports Competition champions honored at the DIP Office for outstanding athletic achievements and unwavering team spirit, receiving well-deserved trophies
Hosts annual awards ceremony to celebrate employee achievements
Participated in the Top Glass Canada Exhibition
Presented with the Best High-End Architectural Glass Manufacturers 2023 award
Named as one of the top 50 companies to watch for by CIO Bulletin
Supplied glass for the cutting-edge cancer facility at Cleveland Clinic Abu Dhabi
In line with commitment to sustainable practices implemented water recycling system using non-hazardous wastewater for irrigation purposes
The Address residences in Dubai Opera Towers shine with Emirates Glass products
Discover the spectacular Abu Dhabi Energy Center with Emirates Glass Emicool Solite Ciel
Emphasizing commitment to sustainability, EFG obtained ICV Certification by integrating advanced technology into its operations
EFG was invited as Panelist by MoIAT on ITTI Index Assessment Discussion. Mr. Saleem Raza, the General Manager of EFG, discussed how EFG implements recommendations from the ITTI assessment part of the UAE Industry 4.0 program
Participated in the World Utilities Congress 2023. Mr. Saleem Raza, the General Manager spoke about EFG's significant contributions to the objectives of the ETIP Program highlighting the alignment with UAE's Net Zero Vision
With the newly added Coater, EFG celebrates highest production month
Implemented a sustainability program supporting 7 of the UN's 18 Global Goals, aiming to end poverty and protect the planet by 2030, contributing to a brighter future for people and the environment
Emicool and Kamstrup forged a strong partnership to drive innovation in cooling meter technology, aiming to enhance the efficiency of cooling systems
Announced the execution of 25,000 m2 warehouses in Abu Dhabi, expanding storage capacity
Participated in Big 5 Construct Ethiopia, providing detailed insights into activities and emphasized commitment to delivering high-quality projects that drive economic progress
Annouced the successful delivery of the Sirakoro Thermal Power Plant in Mali, Africa, marking a significant achievement
Progressing ahead - Built 160,000 sqm PEB for Asian project, exceeding expectations
Awarded a new project, Tinrhert Field Development in Algeria - Phase 2 of a previously successfully completed project in Africa
Techsource project team, in collaboration with process owners and key users, successfully completed the Conference Room Pilot (CRP) 2 and Key Users Training (KUT) sessions, advancing towards implementing Oracle Fusion ERP, paving the way for User Acceptance Testing (UAT) sessions, propelling the ERP implementation journey forward for Go-Live
Collaborated with RTA (Roads and Transport Authority) to distribute iftar meals to taxi drivers, reflecting the true spirit of the holy month of Ramadan
Teamed with The Big Heart Foundation to make little hearts' dreams come true during this Ramadan. Gave children the opportunity to choose their own special Eid outfits and made the festive season meaningful for these young ones
Partnered with the Beit Al Khair organization to distribute Iftar meals at staff accommodations across DIP
Mohammed Saeed Al Raqbani presented certificate of participation to the participants as part of the concluding ceremony of the DI Youth Leadership Program
Provided support to the "Smile on the Face" initiative, aiming to provide meals and necessity-filled smile bags to blue-collar workers in DIP
PIDOAM distributed Iftar meals to the staff and employees of Green Community, fostering a sense of unity and providing nourishment during the holy month of Ramadan
Organized a Job Fair for UAE Nationals, offering diverse opportunities across different sectors of the group, supporting the UAE's vision of Emiratization
Committed to nurturing the growth and progress of Emirati employees, a training program was recently conducted to enhance their skills and expertise
Steps were taken towards promoting reduced CO2 emissions and inaugurated EV Charging stations in Dubai Investments HQ building on World Environment Day 2023, contributing to a greener future
Supported Earth Day 2023 and showcased its commitment to making a positive impact on the planet by promoting sustainability in its operations and in the communities it serves
DIP, in collaboration with FittGROUP, marked the 2023 World Bicycle Day by organizing a 6km and 10km bike ride on the community cycling track on June 3rd
The United Arab Emirates unveiled plans to send a spaceship to explore the solar system's main asteroid belt, the latest space project by the oil-rich nation after it launched the successful Hope spacecraft to Mars in 2020.
Dubbed the Emirates Mission to the Asteroid Belt, the project aims to develop a spacecraft in the coming years and then launch it in 2028 to study
The UAE began rolling out a 9% business tax with exemptions for the many free zones which power its economy, as the formerly tax-free oil producer seeks to boost non-oil revenue and remain a regional commercial hub.
The business tax follows a 5% value added tax (VAT) introduced in 2018, gradually eroding the United Arab Emirates' tax-free status that helped it carve out a role as an international trade and tourism hub and magnet for the ultra-rich.
The Mars 2117 Project is a long-term project, where UAE’s first objective is to develop the educational system to lead scientific research across the various sectors,” Sheikh Mohamed said. He also said that the knowledge outcomes of the research project will be available for all international research institutions; adding that the objective of the research is to contribute in facilitating people lives on earth as well, mainly in the domains of transportation, energy and food.