Dubai Holding, the investment vehicle of the emirate's ruler, will need Dh25 billion ($6.8 billion) to build an entertainment district that will include the world's largest shopping mall, its chief executive said on Tuesday.
Dubai Holding, a global investment holding company, has introduced new commercial incentive packages to encourage hotel and leisure industry investors to enter the three- and four-star hotel segment.
Dubai Holding plans to attract
Dubai Holding Commercial Operations Group (DHCOG), part of a conglomerate owned by the emirate's ruler, will repay $319.3 million on May 13, more than 18 months before the debt is due, it said in a statement on Wednesday.
Dubai ruler's flagship company Dubai Holding said on Sunday its unit Dubai Holding Commercial Operations Group (DHCOG) has almost tripled its 2013 net profit to 3.3 billion dirhams thanks to a surge in core operational revenues.
Tecom Investments, a unit of Dubai Holding, has sold a piece of land to fast-growing shopping mall developer Majid Al Futtaim (MAF), the latest in a series of plot sales initiated by state-linked firms in the emirate to raise funds.
Dubai Holding, a conglomerate owned by the emirate's ruler, and Kuwait's Al Fajer Re plan to launch a firm with $500 million of authorised capital in January to tap unserved demand in retakaful, or Islamic reinsurance.
Global watchmaker Swatch has taken control of Dubai's Rivoli retail chain, the latest luxury group to take a closer interest in its emerging markets outlets in order to use local knowledge to manage its image and better profit from rapid reg
The flagship company in the ruler of Dubai's personal business empire, Dubai Holding, will repay a 750 million euro ($1.04 billion) bond maturing in January 2014 from available funds, Dubai Holding said in a statement on Wednesday.
The private equity arm of Dubai Holding, which is owned by the emirate's ruler, is planning to sell its minority stake in a luxury retailer backed by Swatch, four banking and industry sources aware of the matter said.
Dubai Holding's telecom unit could conclude the sale of stakes in two other telecom firms in the next few months, its chief executive said, part of a strategy by state-linked companies to sell assets to repay the emirate's debt pile.