Dubai Investments expressed its commitment to bolstering its business portfolio and expanding its reach across local, regional, and select African countries, according to Abdulrahman Ghanem Abdulrahman Almutaiwee, the company’s chairman. Almutaiwee stated that the group is cautiously optimistic about 2023 and poised to take advantage of the opportunities presented by current market conditions.
At the company’s annual general meeting, shareholders were informed of the distribution of a 12.5% cash dividend for the year ending December 31, 2022. Almutaiwee also announced that the group would focus on maintaining steady growth and increasing resilience by carrying out an organized divestment and investment process to unlock significant value.
During the annual general meeting, shareholders approved a recommendation to increase the board’s size from seven to nine members. The newly elected board members include Almutaiwee, Khalid bin Kalban, Ali Fardan Ali Alfardan, Khaled Mohammad Ali Alkamda, Hussain Nasser Ahmed Lootah, Mohammed Saif Darwish Ahmed Alketbi, Faisal Abdulaziz Alshaikhmohamed Alkhazraji, Ahmed Salem Abdulla Salem Alhosani, and Hind Abdulrahman Qassim Mohammad Alali.
Additionally, Dubai Investments reported a net profit attributable to the company’s shareholders of AED 1.60B for 2022, compared to AED 619.49M the previous year. The increase was due to a gain on disposal of controlling interest and fair value gain on a retained investment in Emirates District Cooling, which totaled AED 980.42M, as stated by the company.
