The strategic investments for DII, with nine firms under its portfolio, are part of its vision to foray into diversified business sectors to boost its overall market leadership
Dubai Investments Industries (DII), a subsidiary of Dubai Investments and focused on investments in established as well as greenfield projects, has concluded investments in projects worth Dh1.1 billion ($299.48 million) across diversified sectors as part of its strategic expansion plans in the last two years.
DII’s investments include Dh185 million in King’s College Hospital Healthcare (total project value Dh700 million), Dh110 million in Emirates Aluminium Rolling (Emiroll) in Kizad, Abu Dhabi (Dh370 million) and Dh30 million in Modul University Dubai (total project value Dh32 million), targeting promising growth sectors such as healthcare, aluminium and education, identified as strategic in the UAE Vision 2021 and Dubai Industrial Strategy.
The strategic investments for DII, which currently has nine companies under its portfolio spanning construction and building materials, steel, healthcare, education and IT services, are part of its vision to foray into diversified business sectors to boost its overall market leadership, the company said.
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 (GDP). 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: “The focus industries are among the priority sectors earmarked in the UAE Vision 2021 and Dubai Industrial Strategy, and the UAE’s visionary leadership is fully aware of the importance of the industrial sector as one of the main pillars of sustainable development. 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.”
DII 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 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 UAE and Dubai among the world’s smartest places to live in. 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.”
DII has 30 per cent equity stake in Emiroll, to be set up in Khalifa Industrial Zone Abu Dhabi (Kizad) in a joint venture with Dubal Holding and Singapore-based MARS. The total project value of Emiroll is approximately Dh370 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 Dh165 billion to UAE’s economy and create over 27,000 jobs by 2030.
DII holds 26.75 per cent stake in King’s College Hospital Healthcare. The total project value is estimated at Dh700 million, and includes a 100-bed King’s College Hospital in Dubai Hills expected to be ready by 2018 besides a number of clinics across Dubai. The other partners in the project are Al Tayer Group and London-based Ashmore Group.
DII holds 90 per cent stake in Modul University Dubai, Austria-based private university specialised 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. DACH Advisory holds the remaining 10 per cent stake in the entity.
The sustained growth of DII has not only catapulted Dubai Investments as a diversified, international conglomerate but also strengthened Dubai and UAE’s vision to become a preferred partner for industrial expansion across the globe. DII aims to continue its growth by enabling investments opportunities, sharing knowledge, eyeing partnerships and unlocking new areas of development, the company said.