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DIC considers 10 new projects for investment

DUBAI— Dubai International Capital (DIC), the international investment arm of Dubai Holding, is evaluating 10 new projects for potential investment, said Sameer Al Ansari, CEO of DIC.

Speaking to Khaleej Times yesterday, Al Ansari said, the company is evaluating a number of regional and international opportunities. “At present we have about 10 projects under consideration. All these are under evaluation stage and if they fit our criteria we will take exposure in these projects,” said Al Ansari.

DIC yesterday announced that it has taken up 47 per cent stake in a company formed by a consortium of 12 investors that will invest $150 million to finance 20 Express by Holiday Inn Hotels across the GCC. Earlier this year DIC had invested $1 billion in DaimlerChrysler, making it the company's third largest shareholder, followed by the $1.5 billion acquisition of The Tussauds Group in the UK the largest operator of visitor attractions in Europe. DIC has also launched Jordan Dubai Capital, a $280 million investment company targeting opportunities in the Jordanian economy. In addition to its growing portfolio of international investments, DIC also has local projects such as the 'Dubai Yachting' project launched to create new destination for global yachting enthusiasts. The project will include a best-in-the-world marina for yachts and will involve purchase of 50 yachts.