Dubai Investments PJSC

Dubai Investments has announced the launch of Asayel Avenue, a new residential cluster in the Mirdif Hills development in Dubai. Asayel Avenue will feature 193 residential units, including 1, 2, and 3-bedroom apartments, designed to offer luxury, functionality, and larger living spaces with enhanced natural light. The project, with an investment of AED 400 million, is set to begin construction in Q2 2025 and complete by Q2 2027. It aims to set new standards for community-focused living in Dubai, with amenities such as fitness centers, recreational areas, and smart living solutions. The development emphasizes green integration and balanced lifestyles, catering to the demand for premium residential options in the city.

Globalpharma, a leading pharmaceutical company in the UAE and a subsidiary of Dubai Investments PJSC, plans to launch 25 new products in 2025 across therapeutic areas such as diabetes, cardiovascular, gastroenterology, and orthopaedics. This initiative is part of Globalpharma's strategy to provide high-quality and accessible medications to meet regional healthcare needs. The company aims to strengthen its distribution network and form new partnerships to ensure product accessibility and meet the needs of healthcare practitioners and patients. Globalpharma's focus for 2025 includes innovation, accessibility, and partnerships, building on the success of previous product launches in 2024. The company's efforts align with Dubai Investments' vision to transform key industries and establish a strong presence in the global pharmaceutical sector.

Dubai Investments PJSC reported a net profit after tax of AED 650.51 million for the nine-month period ending September 30, 2024, and AED 241.31 million for the three-month period ending the same date. This represents an 80% and 78% increase, respectively, compared to the previous year when adjusted for a one-off gain. The company's total assets grew to AED 21.81 billion as of September 30, 2024, from AED 21.44 billion at the end of 2023, with equity attributable to shareholders rising to AED 13.58 billion. Khalid Bin Kalban, Vice Chairman and CEO, highlighted the group's strategic focus on sustainable growth and diversification, noting strong performance in the real estate sector and investment portfolio.

Dubai Investments PJSC and its subsidiaries have released their condensed consolidated interim financial statements for the nine-month period ending on September 30, 2024.