Dubai Investments will determine before May 15 whether to proceed with the initial public offering (IPO) of its real estate business, Dubai Investments Park, or defer it to October, the company’s Vice Chairman and Chief Executive has said.
Khalid Bin Kalban told Gulf News on the sidelines of the company’s annual general meeting that the board was targeting a decision date of May 11.
“We have been in contact with the banks that will lead the issue, as well as major investors participating in the offering. They are all very positive. Our board will have to decide, hopefully by May 11, whether we proceed or postpone the IPO for another three months,” Kalban said, according to the report.
What is being offered in the DIP IPO?
Dubai Investments announced in September last year that it would sell a 25 per cent stake in Dubai Investments Park (DIP), a 23-million-square-metre development that serves as a mixed-use industrial, commercial and residential hub.
Kalban said the company’s diversified structure – spanning real estate, manufacturing, building materials, financial investments, healthcare and education – placed it in a position that was largely unaffected by geopolitical pressures, according to the report.
“Dubai Investments is a local company with local investors with income coming from residents; it’s not affected by anything else. We are very safe and we have a track record of 30 years,” he said.
Dubai Investments posts AED1.55bn net profit as DIP IPO decision looms
At the annual general meeting, the board announced a 25 per cent cash dividend for its 15,724 shareholders for 2025.
The announcement followed a year of strong financial results. The company recorded a profit before tax of AED1.7 billion, a 31 per cent increase from AED1.3 billion in 2024. Net profit after tax rose to AED1.55 billion from AED1.21 billion the previous year. Group income reached AED4.63 billion over the period.
According to the report, Kalban pointed to real estate as the principal driver of the company’s performance. “During the year, Dubai Investments made progress across its core business sectors, including real estate, investments and manufacturing, while advancing regional expansion and pursuing selective investment opportunities aligned with its long-term strategy. But the major contributor, of course, was real estate. We sold a lot of units during the year and we improved a lot on our rental income,” he said.
Rental income rose to Dh1.19 billion, accounting for more than 25 per cent of the group’s total income.
Construction is continuing as planned across the group’s projects. These include Danah Bay apartments on Al Marjan Island in Ras Al Khaimah, Violet Tower in Jumeirah Village Circle, Asayel Avenue at Mirdif Hills and Al Vista in Meydan. Deliveries are scheduled to begin in the second half of this year and continue through to 2028.
