Monday, 22 January 2018 02:14 GMT

Dubai Investments profit hits USD29.3m

(MENAFN) Dubai Investments (DI) announced a net profit of USD29.3 million through divestments in nine subsidiaries over the years, Emirates 24\7 reported

DI"s private equity subsidiary, Masharie, has acquired 23 companies since 1998 and owns 12 companies in its portfolio

The companies include various sectors such aluminum extrusion, architectural aluminum designs, rubber, interior fit-outs, drivers" training centers and laboratory furniture, among others

General Manager of Masharie said: "Over the last 16 years, Masharie has achieved phenomenal success with its private equity investments. The profits and growth at DI have been driven by our pioneering vision for Masharie, and a result of strategic and calculated acquisitions and exits from various businesses at appropriate time, and we achieved profits of over Dh108 million through divestments.

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