All Dubai Investments firms 'will go public'

Every company within the Dubai Investments stable will eventually go public, Khalid Kalban, the company's Managing Director and Chief Executive, told Emirates Business in an exclusive interview.

"Everything that we have within DI is either for sale or earmarked for private placement or listing in the stock market, but at the proper time," Kalban said.

With the private equity arm of DI, M'sharie, already taking the IPO route, Kalban said for the rest it was all about timing.

Kalban also revealed that Dubai Investments Real Estate Company (DIRC) will roll out six new projects in Dubai by early 2009 spread across in Mirdiff Hills, Meydaan, Jumeirah Village and Maritime City.

Kalban said Dubai Investments' real estate investments account for 65 to 70 per cent of the total profits.

Kalban cited DI's diversified portfolio as being the key to helping it escape any market downturn.

DI, with paid-up capital of Dh3.2 billion, is the largest investment company listed on the UAE stock exchanges.

It comprises 46 companies under six divisions – Dubai Investments Industries, M'Sharie, Dubai Investments Park, Glass LLC and Al Taif Investment.