Dubai Investments Industries has concluded AED 1.1 billion worth of investments in diverse strategic sectors in the UAE.
Dubai Investments Industries (profile) investments’ include AED 185 million in King’s College Hospital Healthcare (total project value AED 700 million), AED 110 million in Emirates Aluminium Rolling in Abu Dhabi (total project value AED 370 million) and AED 30 million in Modul University Dubai (total project value AED 32 million), targeting promising growth sectors such as healthcare, aluminium and education, identified as strategic in the UAE Vision 2021 and Dubai Industrial Strategy.
Dubai Investment Industries (DII) is a subsidiary of Dubai Investments focused on investments in established and greenfield projects. It currently has nine companies under its portfolio spanning construction and building materials, steel, healthcare, education and IT services.
Mohammed Saeed Al Raqbani, DII General Manager, said: “Dubai Investments Industries, under the supervision and guidance of Dubai Investments, has multiple investment plans and strategic projects in the pipeline which will not only diversify its business portfolio but also increase the contribution of the non-oil industrial sector to the country’s Gross Domestic Product. DII’s investments are focused on sustainable businesses which will lead to a quantum leap in the company’s bottom line and growth.”
He added: “Diversification is a basis for building the future economic model and industries such as aluminium, healthcare and education follow a holistic approach that allows all stakeholders to contribute to building the country’s forward march and reduce the reliance on oil revenues.”
Dubai Investments Industries also announced that it is closely targeting investments in high-definition security, surveillance solutions and automation systems, information technology services, niche construction materials with Leadership in Energy and Environment Design (LEED) certification and standards, and studying opportunities in downstream plastics and polymers sectors.
Elaborating on other priority sectors, Raqbani said: “The transition to a knowledge-based economy will turn the UAE and Dubai into one of the world’s smartest places to live. This will be achieved by encouraging the adoption of creativity and innovation in the community, and working on the development and implementation of the latest smart security and surveillance applications across various fields. DII plans to be a key player in the domain in the future.”
Dubai Investments Industries has a 30 per cent equity stake in Emirates Aluminium Rolling (Emiroll), to be set up in Khalifa Industrial Zone Abu Dhabi in a joint venture with Dubal Holding and Singapore-based MARS. The total project value of Emiroll is approximately AED 370 million and once operational, the plant will manufacture 65,000 tonnes of aluminium coils per annum for applications in downstream industries. DII is looking for growth opportunities in the downstream industries sector.
Aluminium is one of the six priority sub-sectors in Dubai Industrial Strategy which aims to transform UAE into a global platform for innovative industries. The strategy, which also includes aerospace, maritime, pharmaceuticals, food and beverages, machinery and equipment, is expected to add AED 165 billion to the UAE economy and create over 27,000 jobs by 2030.
Dubai Investments Industries also holds a 26.75 per cent stake in King’s College Hospital Healthcare. The project includes the 100-bed King’s College Hospital in Dubai Hills, expected to be ready by 2018, and a number of clinics across Dubai. The other partners in the project are Al Tayer Group and London-based Ashmore Group.
DII also has a 90 per cent stake in Modul University Dubai, a private Austrian university specialized in tourism and hospitality management courses. The university, set up with a total project value of AED 32 million, operates a 25,000 square feet campus at One JLT, Dubai.