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Investment Corporation of Dubai

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Investment Corporation of Dubai News

Grifols, which is traded on Spanish bourses, is expected to go private following acquisition by Brookfield

Brookfield seeks ADQ support in bid for Spain’s Grifols

Brookfield Asset Management has been in discussions with ADQ, a sovereign wealth fund in Abu Dhabi, to explore potential support for acquiring Spanish blood-plasma company Grifols SA. The Canada-based investment company has also held talks with Singapore’s GIC Pte, though no agreements have been finalised, Bloomberg reported, citing unnamed sources. Grifols, which is traded on […]

Aircraft, Airliner, Airplane

Dubai Aerospace Enterprise buys 23 aircraft for $1.1bn

Dubai Aerospace Enterprise Limited, a global aviation services company, has acquired 23 aircraft from multiple companies for $1.1 billion. The company’s aircraft portfolio will have an average age of 3.4 years and an average lease term remaining of 8.8 years on completion of the deal by year-end. These jets are on lease to 13 airlines […]

Emirates Airline cabin crew. The Investment Corporation of Dubai owns the airline and has a significant stake in Dubai's biggest bank Emirates NBD

Dubai wealth fund reports record net profit for second year running

Investment Corporation of Dubai, the Dubai government’s main investment unit, has reported a record annual net profit. Earnings were bolstered by higher interest rates and a resurgent aviation sector. ICD owns Emirates and FlyDubai airlines, travel agency Dnata, Emirates National Oil Company (Enoc) and stock exchange operator Borse Dubai.  NewsletterGet the Best of AGBI delivered […]

Emirates chief executive Sheikh Ahmed bin Saeed al Maktoum said he was 'confident in our resilience and ability to respond quickly' to challenges such as the recent flooding in Dubai

Dubai to receive $1bn dividend after record Emirates profits

Emirates Group will pay more than $1 billion in dividends to its owner, the Investment Corporation of Dubai sovereign wealth fund, after it announced record profits of just over $5 billion for the year. The holding group includes Dubai-based flag carrier Emirates and aircraft and airport services company Dnata. It repaid $596 million from the […]

The Gulf Islamic Investments logistics real estate platform owns 1.5m square feet of high-quality warehouses in the UAE

Canada’s Brookfield invests in UAE warehouse sector

Canadian company Brookfield Asset Management has acquired a controlling stake in a portfolio of warehouses owned by the UAE’s Gulf Islamic Investments (GII), as it takes advantage of continuing growth in the region’s ecommerce sector. The value of the deal was not given. The portfolio includes 1.5 million square feet of high-quality warehouses across the UAE.   […]

An impression of Abu Dhabi’s waste-to-energy plant, which will process 900,000 tonnes of non-recyclable waste annually

Abu Dhabi awards contract for first waste-to-energy facility

A joint venture between Dubai’s Alec Engineering and Contracting (Alec) and Lebanon’s Butec has won a contract to design and build Abu Dhabi’s first waste-to-energy plant. The joint venture will collaborate with Hitachi Zosen Innova, a Swiss-based cleantech company, on the project, Alec said in a statement. Located near the Al-Dhafra landfill, the facility – […]

City, Architecture, Building Abu Dhabi alternative investment fund Lunate and Saudi Arabia-based Olayan will each own 24.5 percent equity interest in ICDBP ICD Brookfield Place Dubai

Lunate and Olayan buy into Dubai’s ICD Brookfield Place

Dubai’s sovereign wealth fund Investment Corporation of Dubai and Brookfield Corporation have sold a 49 percent stake in ICD Brookfield Place (ICDBP), the emirates’ largest office tower. Abu Dhabi alternative investment fund Lunate and Saudi Arabia-based Olayan will each own 24.5 percent equity interest in ICDBP. It is the largest institutional third-party single-asset real estate […]

Alec IPO SeaWorld Abu Dhabi

Alec IPO could start listings rush in construction sector

A listing by Dubai’s Alec Engineering and Contracting could open the gates for more construction-related companies to go public as they take advantage of the country’s buoyant property market, according to a business expert. Alec, which is backed by the Investment Corporation of Dubai (ICD), the emirate’s sovereign wealth fund, is behind some of the […]

In Dubai, '80% of the wine lists are the same', but Abu Dhabi is opening to more alcohol brands

Alcohol brands blocked from Dubai target Abu Dhabi

Independent alcohol brands blocked from the Dubai market are entering the UAE by breaking into the more open Abu Dhabi market, industry insiders have said. The alcohol market in the UAE is regulated at the emirate level, and each has different levels of access and competition. Dubai’s market is a duopoly. Two distributors – Maritime […]