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Fri 24 Jan 2014 10:49 AM

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Dubai Holding chief expects $816m profits in 2013

Chairman Mohammad Abdulla al-Gergawi give upbeat message on conglomerate's performance

Dubai Holding chief expects $816m profits in 2013
Mohammad Abdulla Al Gergawi, chairman of Dubai Holding.

Dubai Holding chairman Mohammad Abdulla al-Gergawi has said the company’s profits for 2013 are likely to exceed AED3 billion ($816m).

Speaking from the World Economic Forum in Davos, Gergawi said results were set to double those of the previous year.

“Dubai Holding results were excellent in 2013. The profits in 2013 will double those of last year and will exceed AED 3 billion,” he was quoted as saying in a tweet posted by the Dubai Media Office.

Established in 2004, Dubai Holding is a global investment holding company with interests in 24 countries.

Employing 15,000 people from 121 nationalities, Dubai Holding is managed through two business groups - Dubai Holding Commercial Operations Group (DHCOG) and Dubai Holding Investment Group (DHIG).

DHCOG develops and manages hospitality, business parks, real estate and telecommunications and its units include Jumeirah Group, TECOM Investments, Dubai Properties Group and Emirates International Telecommunications.

DHIG oversees Dubai Holding’s financial assets and its operating units include Dubai Group and Dubai International Capital.

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