Aluminium extrusion is part of Dubai Investments manufacturing activity

Aluminium extrusion is part of Dubai Investments manufacturing activity

Firm’s manufacturing sector assets hit $830m

01 April 2017

Dubai Investments, a leading, diversified investment company, has achieved consistent growth in its manufacturing business with total assets in the sector increasing to Dh3.05 billion ($830.4 million) as on December 31, 2016.

The figure constituted 19 per cent of the company’s total assets worth Dh16.11 billion ($4.38 billion), the group said.

The company’s manufacturing business continues to play a major role in the growth of the manufacturing and industrial sector across the UAE, with strong contribution from its subsidiaries – particularly in the processing industries segment to the country’s non-oil gross domestic product (GDP).

The total income from Dubai Investments manufacturing activity grew to Dh1.57 billion ($427.4 million) in 2016, a 15 per cent increase compared to Dh1.36 billion ($3.702 million) in 2015.

The manufacturing companies of Dubai Investments are taking centre stage at the Manufacturing Expo 2017, being held in conjunction with the inaugural Global Manufacturing & Industrial Summit (GMIS) at the Paris Sorbonne University in Abu Dhabi, UAE, and co-hosted by UAE Government and the United Nations Industrial Development Organisation (Unido).

Khalid Bin Kalban, managing director and CEO of Dubai Investments, said: “The manufacturing business, one of the core focus areas, has witnessed a strong growth thrust – particularly in the building materials, aluminium and steel sectors.”

“As one of the pioneers in manufacturing sector in the UAE since the late-1990s, Dubai Investments has made significant contribution to the country’s non-oil Gross Domestic Product (GDP),” he said.

“The company has also prioritised some industries earmarked in the UAE Vision 2021 and Dubai Industrial Strategy, and these form the main pillars of its sustainable growth plans,” he added.

Kalban said: Our organisation wants to reinforce its commitment to the manufacturing sector through a strong pipeline of projects in the future – which is endorsed in its strong participation at the event.”

“The summit is a testament to UAE’s growing role in developing a global, knowledge-based economy, which invests in global value chains and enabling a sustainable future for generations to come,” he concluded.

The event comes amidst a strong focus on manufacturing sector, with the UAE Ministry of Economy announcing that the country is targeting increasing the GDP share of the manufacturing sector from the current 11 per cent to 20 per cent by 2021 and 25 per cent by 2025.

Dubai Investments has 17 companies in the manufacturing domain.

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