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29 May 2023

DI plans expansion in Saudi Arabia

By Staff Writer

CEO and Managing Director of Dubai Investments (DI) Khalid bin Kalban said his company seeks to expand in Saudi Arabia.

Dubai Investments through Saudi Arabia's position on the Red Sea aims to extend its business to Africa as an effective market which is promising for investors, he told Al Jazirah Arabic daily.

Bin Kalban said all economic activities seek to have presence in the Saudi market, which is strong and solid. He said most GCC member states depend on the Saudi market. "We currently target new geographical markets, and we prefer the start to be from this [Saudi] market."

He said the UAE has diversified its sources of income and contributions by non-oil sectors now occupy an effective area of GDP.


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