DUBAI INVESTMENTS P.J.S.C.
Dubai Investments P.J.S.C. is a public joint stock company incorporated in Dubai, United Arab Emirates on 12 October 1995 and registered under number 45672, with an active status on record. The company is listed on the Dubai Financial Market under the ticker DIC and operates as a diversified investment holding group.
The group organises its activities across real estate investment and development, manufacturing, contracting and building materials, financial services and investments, and social infrastructure including healthcare and education, operating through a network of subsidiary and associate companies mainly in the UAE.
For the year ended 31 December 2025, Dubai Investments P.J.S.C. reported consolidated profit before tax of AED 1.70 billion, up 31 percent from AED 1.30 billion in the year ended 31 December 2024, and consolidated net profit after tax attributable to owners of AED 1.55 billion (2024: AED 1.21 billion). Consolidated total income for the period was AED 4.63 billion, including rental income of AED 1.19 billion, or about 25.7 percent of the total. Consolidated total assets stood at AED 23.28 billion at 31 December 2025 (2024: AED 22.10 billion), and equity attributable to owners was AED 14.90 billion (2024: AED 14.11 billion). Earnings per share rose to AED 0.36 from AED 0.28. The board proposed a cash dividend of 25 percent, or AED 0.25 per share, for the 2025 financial year, subject to shareholder approval.
In July 2025, Dubai Investments P.J.S.C. announced a leadership change under which Group Chief Financial Officer Mushtaq Masood was appointed Chief Operating Officer, with Nishant Shah named Acting Chief Financial Officer.
- Company fundamentals
- Corporate linkage & group structures
- Digitized company financials
- Firmographics — websites, social profiles, revenue and employee estimates
Shareholders
5
Dubai Investments P.J.S.C. is a Dubai Financial Market-listed public joint stock company with a broad shareholder base. Company disclosures describe more than 15,000 registered shareholders against paid-up share capital of AED 4.25 billion. Publicly tracked institutional holding data lists index-fund and exchange-traded-fund managers as the largest disclosed positions, including Vanguard International Stock Index-Total Intl Stock Indx (20.9 percent), iShares Emerging Markets Dividend ETF (18.5 percent), iShares Core MSCI Emerging Markets ETF (17.4 percent), DFA Emerging Markets Core Equity Portfolio (4.4 percent) and Schwab Strategic Tr-Schwab Emerging Markets Equity ETF (2.3 percent). These are passive index-tracking vehicles rather than strategic or controlling shareholders, and the balance of the free float is held across the wider shareholder register, which is not broken out by individual holder in the sources reviewed.
Ultimate beneficial ownership
No natural-person ultimate beneficial owner has been identified. The disclosed major holders are institutional index funds and exchange-traded-fund managers rather than individuals, and the wider register spans more than 15,000 holders with no single disclosed holding that would support identifying a controlling natural person.
Data availability
Shareholder data availability is classified as Major shareholders only. The figures reflect the largest disclosed institutional index-tracking positions rather than the complete register of more than 15,000 shareholders, and no individual or family beneficial-ownership disclosure was found.
Sources
- Dubai Investments PJSC official website – Who We Are / Investor Relations
- Dubai Investments PJSC Integrated Report 2024
- Dubai Financial Market – Dubai Investments PJSC company profile
| Shareholder | Type | Holding | Source Document |
|---|---|---|---|
| Vanguard International Stock Index-Total Intl Stock Indx | 20.9% | Ministry of Economy & Tourism — National Economic Register / Emirate-level DEDs | |
| iShares Emerging Markets Dividend ETF | 18.5% | Ministry of Economy & Tourism — National Economic Register / Emirate-level DEDs | |
| iShares Core MSCI Emerging Markets ETF | 17.4% | Ministry of Economy & Tourism — National Economic Register / Emirate-level DEDs | |
| DFA Emerging Markets Core Equity Portfolio | 4.4% | Ministry of Economy & Tourism — National Economic Register / Emirate-level DEDs | |
| Schwab Strategic Tr-Schwab Emerging Markets Equity ETF | 2.3% | Ministry of Economy & Tourism — National Economic Register / Emirate-level DEDs |
Officers
5
Dubai Investments P.J.S.C. is governed by a nine-member board of directors, chaired by Abdulrahman Ghanem A. Al Mutaiwee, a board member since 2017, with Khalid Jassim Mohammed Bin Kalban serving as Vice Chairman and Chief Executive Officer. Other board members disclosed in the 2024 Integrated Report are Ali Fardan Ali Al Fardan, Mohammed Saif Darwish Ahmed Al Ketbi, Khaled Mohammed Ali Al Kamda, Ahmed Salem Abdulla Salem Alhosani, Faisal Abdulaziz Alshaikh Mohamed Alkhazraji, Hussain Nasser Ahmed Lootah and Hind Abdulrahman AlAli. This board layer sits above and is separate from the executive management team already shown on this profile. Nationality is not disclosed for board members in the sources reviewed.
Recent officer changes
- July 2025 – Mushtaq Masood moved from Group Chief Financial Officer to Chief Operating Officer, taking on operational strategy and mergers-and-acquisitions oversight.
- July 2025 – Nishant Shah, previously Finance Director since 2019, was named Acting Chief Financial Officer following the changeover.
Data availability
Officer data availability is classified as Partial. Board composition and the July 2025 executive changes are disclosed, but appointment dates for individual board members, nationality and other biographical detail are not disclosed in the sources reviewed.
Sources
- Dubai Investments PJSC Integrated Report 2024
- Dubai Investments PJSC official press release – key leadership appointments, July 2025
- Zawya – Dubai Investments announces key leadership appointments
Group Structure
Dubai Investments P.J.S.C. is the top-level, Dubai Financial Market-listed entity of its group and has no disclosed parent company. Beyond the subsidiaries already shown on this profile, verified official disclosures confirm direct stakes in National General Insurance Company P.J.S.C. and Al Mal Capital PSC, and a 50-percent-held joint venture in Emirates District Cooling Company, known as Emicool, alongside Actis. The relationships below reflect the most recent transaction or disclosure dates found in official and reputable sources rather than a single as-of date.
Verified corporate relationships
| Entity | Country | Registration number | Relationship | Ownership | Status | Information date |
|---|---|---|---|---|---|---|
| National General Insurance Company P.J.S.C. (DFM: NGI) | United Arab Emirates | Not disclosed | Direct subsidiary | 45.18 percent of share capital | Active | July 2021; tender offer for further shares announced December 2021 |
| Al Mal Capital PSC | United Arab Emirates | Not disclosed | Direct subsidiary | 70.18 percent of share capital | Active | Retrieved August 2026 |
| Emirates District Cooling Company (Emicool) | United Arab Emirates | Not disclosed | Affiliate / joint venture with Actis | 50 percent of share capital | Active | April 2022 |
Recent structural changes
- April 2022 – Dubai Investments sold a 50 percent stake in Emirates District Cooling Company (Emicool) to Actis at a corporate valuation of approximately USD 1 billion, converting the unit into a 50:50 joint venture.
- December 2021 to January 2022 – Dubai Investments launched a tender offer for the remaining publicly held shares in National General Insurance Company P.J.S.C. after building a 45.18 percent stake earlier in 2021.
Data availability
Group structure data is classified as Partial. The parent-level position, described as none, and several material subsidiary and affiliate stakes are verified through official announcements and company disclosures, but a complete subsidiary schedule with ownership percentages for all subsidiaries already recorded on this profile was not accessible in the sources reviewed.
Sources
- The National – Dubai Investments boosts UAE insurer stake in 19.36 million dollar deal, 14 July 2021
- The National – Dubai Investments sells 50 percent stake in Emicool to Actis in 1 billion dollar deal, 12 April 2022
- Actis official press release – Actis purchases 50 percent stake in Emirates District Cooling Company from Dubai Investments, 12 April 2022
- Dubai Investments PJSC official website – Al Mal Capital PSC business page
- Gulf News / Zawya – Dubai Investments to acquire National General Insurance shares tender offer
DUBAI INVESTMENTS P.J.S.C.
United Arab Emirates
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Frequently Asked Questions
What does DUBAI INVESTMENTS P.J.S.C. do?
Diversified investment holding group listed on the Dubai Financial Market (ticker DIC), active in real estate, manufacturing and building materials, contracting, financial services, healthcare and education.
Who owns DUBAI INVESTMENTS P.J.S.C.?
More than 15,000 registered shareholders; largest disclosed holders are institutional index funds (Vanguard, iShares, DFA, Schwab); no controlling natural-person UBO identified.
Who is DUBAI INVESTMENTS P.J.S.C.'s UBO (Ultimate Beneficial Owner)?
No ultimate beneficial owner identified; disclosed major holders are institutional index/ETF funds rather than individuals.
What is DUBAI INVESTMENTS P.J.S.C.'s company registration number?
DUBAI INVESTMENTS P.J.S.C.'s registration number is 45672, filed with Ministry of Economy & Tourism — National Economic Register / Emirate-level DEDs in United Arab Emirates. Its current status on the register is active.
Is DUBAI INVESTMENTS P.J.S.C. still an active company?
DUBAI INVESTMENTS P.J.S.C.'s status on Ministry of Economy & Tourism — National Economic Register / Emirate-level DEDs is listed as active.
When was DUBAI INVESTMENTS P.J.S.C. incorporated?
DUBAI INVESTMENTS P.J.S.C. was incorporated on 12 October 1995, according to Ministry of Economy & Tourism — National Economic Register / Emirate-level DEDs.
What is DUBAI INVESTMENTS P.J.S.C.'s registered address?
The registered address on file for DUBAI INVESTMENTS P.J.S.C. is Dubai, United Arab Emirates.
What is DUBAI INVESTMENTS P.J.S.C.'s revenue?
Consolidated total income of AED 4.63 billion and profit before tax of AED 1.70 billion for the year ended 31 December 2025, a 31 percent year-on-year increase in profit before tax.
Is DUBAI INVESTMENTS P.J.S.C. listed on a stock exchange?
Listed on the Dubai Financial Market under ticker DIC.
Who are the officers/directors of DUBAI INVESTMENTS P.J.S.C.?
Nine-member board chaired by Abdulrahman Ghanem A. Al Mutaiwee, with Khalid Jassim Mohammed Bin Kalban as Vice Chairman and CEO; Mushtaq Masood moved from Group CFO to COO in July 2025, with Nishant Shah named Acting CFO.
Does DUBAI INVESTMENTS P.J.S.C. have a parent company or subsidiaries?
No disclosed parent company; verified direct stakes include National General Insurance Company (45.18 percent) and Al Mal Capital PSC (70.18 percent), plus a 50 percent joint venture in Emicool with Actis.
Can Zavia monitor changes to DUBAI INVESTMENTS P.J.S.C.'s ownership over time?
This profile reflects a point-in-time snapshot from Ministry of Economy & Tourism — National Economic Register / Emirate-level DEDs. Zavia's monitoring API can track changes to DUBAI INVESTMENTS P.J.S.C.'s registered shareholders, officers, and group structure going forward, flagging updates as they're filed rather than requiring a manual recheck.
Can I access DUBAI INVESTMENTS P.J.S.C.'s data through an API?
Yes. Zavia's API connects directly to official government ownership registries across 195 countries and territories, including United Arab Emirates, so records like DUBAI INVESTMENTS P.J.S.C.'s registration, shareholder, UBO, and group-structure data can be queried programmatically instead of viewed one page at a time.
Where does this company information come from, and how current is it?
This record is sourced directly from Ministry of Economy & Tourism — National Economic Register / Emirate-level DEDs and was last synced on 11 August 2026.