São Paulo –Dubai Investments has raised the foreign ownership limit in the company’s shares from the former 20% to 35%.The proposal was approved at the annual meeting this week. At the same meeting, a proposal was also approved to distribute 7% cash dividend and 7% bonus share, for the year ending December 31, 2013.
“Dubai Investments has registered fast-paced growth over the years with a strategic focus across three industry sectors – property, manufacturing & contracting, and investments, and aims to add value to its diversified portfolio through prudent use of capital and sound management skills,” claimed Sohail Faris Ghanim Al Mazrui, the company’s CEO, according to the keynote.
According to Dubai Investments’ website, 67% of its assets are in the property sector. In 2013, the net revenue was US$ 762.25 million, an increase of 22% over the previous year. Net profit was US$ 223.78 million, 156% higher than in 2012. Total assets of the group last year stood at US$ 3.435 billion.
“The outlook for 2014 is very positive with economic indicators pointing to growth across all sectors, led by an upswing in the real estate sector – particularly in companies engaged in the manufacturing of construction materials, which remains one of our key focus areas at Dubai Investments,” said Mazrui, according to the keynote.
“We have a strong thrust in developing our real estate portfolio during the year. We are also actively working on certain divestments as well as new acquisitions, which are expected to contribute significant returns to the shareholders.”
*Translated by Rodrigo Mendonça
