Dubai Holding Delivers a Robust Operational Performance in the First Half of 2019
Dubai Holding Delivers a Robust Operational Performance in the First Half of 2019July 4, 2019
- A Number of Major Milestones Reached as the Company Continues to Play a Strong Role in Dubai’s Economic Growth
Dubai Holding, a diversified global company with a presence in over 10 countries, today announced its operational performance for the first half of 2019. Since its inception 15 years ago, the organisation, which operates in 12 business sectors, has been instrumental in developing Dubai’s economy and supporting the Emirate’s diversification and growth.
Dubai Holding’s companies include Jumeirah Group, TECOM Group, Dubai Properties, Dubai Asset Management, Arab Media Group, and Dubai Retail.
Commenting on the company’s performance in the first half of 2019, His Excellency Abdulla Al Habbai, Chairman of Dubai Holding, said: “Dubai Holding continues to deliver on the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates, and Ruler of Dubai, to further position the Emirate as a preeminent business and leisure destination.
“This year marks 15 years since Dubai Holding was created, and since then, the organization has been committed to strengthening Dubai’s socio-economic fabric by bringing communities together, enhancing the business ecosystem, and driving investment into key economic sectors. Overall, we had a robust operational performance in the first half of 2019, marked by multiple successes and achievements which have enhanced Dubai Holding’s contributions towards shaping Dubai’s future.”
His Excellency Al Habbai added: “As a group, we have delivered a number of critical projects across a range of industries, while maintaining our focus on empowering our Emirati employees, with the appointment of three Emirati women from within the organisation to leadership roles across the group.”
“As we look ahead, we will diligently deliver on our 5-year business plan that sets clear goals for all our companies. For the rest of the year, our focus will continue to be on achieving strong financial success underpinned by the performance of our recurring income business, delivery of existing pipeline projects and executing prudent operational efficiency. With EXPO 2020 around the corner, we look forward to Dubai Holding playing an important role in this landmark event, and welcoming millions of visitors to the Emirate.”
Highlights of achievements during the first half of 2019
Dubai Holding unveiled the second and third phases of its popular Madinat Jumeirah Living project, a 3.85 million square feet residential development overlooking Burj Al Arab Jumeirah, while D-Marin Dubai, the joint venture established between Meraas, Dubai Holding and D-Marin, one of the largest marina chains in the Eastern Mediterranean, commenced operations and now manages Marasi Business Bay and Jaddaf Waterfront marinas in Dubai.
As part of its commitment to Emiratization and empowering the next generation of women leaders, Dubai Holding appointed Khadija Al Bastaki as Executive Director of Dubai Design District (d3), Hanan Huwair as Executive Director for Business Technology at TECOM Group, and Buthaina AlMulla as Director of Business Development for Dubai Media City, Dubai Studio City and Dubai Production City.
TECOM Group, which today has 11 business districts across six sectors, welcomed to its various communities international partners including EnviroServe, the first integrated electric and electronic waste recycling facility in Dubai Industrial City with a AED 120 million investment; ‘The Russian Centre for Digital Innovations and Information and Communication Technologies’, the largest and only business platform outside Russia; and global toy brand LEGO, which opened its first Middle East office in Dubai Design District (d3). Two of TECOM Group’s business parks, Dubai International Academic City and Dubai Knowledge Park, are an educational hub home to over 500 renowned universities serving more than 27,000 students from around the world.
During the first half of 2019, Jumeirah maintained its status as Dubai’s premium hospitality company and was recognised as ‘Best Employer’ for the Middle East as well as the UAE's ‘Best Hospitality Brand’ by YouGov BrandIndex. With above market occupancy rates across its properties, Jumeirah Hotels and Resorts continued its expansion with the opening of a number of hotels, including Jumeirah at Saadiyat Island Resort and Jumeirah Al Wathba Desert Resort & Spa (both in Abu Dhabi), as well as Jumeirah Guangzhou (China). The company also announced a major refurbishment of its London flagship hotel, Jumeirah Carlton Tower, located in the heart of London’s fashionable Knightsbridge.
Dubai Asset Management
As one of the largest residential asset management companies in the UAE, Dubai Asset Management expanded its footprint to the prestigious Jaddaf Waterfront with the addition of Dubai Wharf and Manazel Al Khor communities to its portfolio. Its occupancy levels continue to stand at 95%, with approximately 100,000 residents living in its communities across Dubai. Additionally, as part of its mission to ensure an integrated customer experience, the company partnered with Smart Dubai to launch Dubai’s first digital lease in alignment with the Dubai Paperless Strategy. Dubai Asset Management also launched ‘DubaiAM Life’, a resident portal and mobile application for community residents.
Dubai Properties has successfully released more than 500 units across two major projects in Dubai, including La Rosa at Villanova in Dubailand, while continuing to hand over to owners units across its various communities. Due to attractive features and payment options, the project has piqued investor interest and achieved solid sales since the releases in April and June.
Arab Media Group
Arab Media Group’s Arabian Radio Network continued to attract over 4 million weekly listeners, while season 23 of Global Village welcomed for the first time more than 7 million guests, and was ranked as the UAE’s number 1 leisure and entertainment destination by YouGov Brand Index. Done Events now owns the region’s three biggest music festivals, and was the recipient of multiple awards including Timeout Dubai Nightlife Awards, WOW awards and Hype Awards.
Dubai Retail continues to operate over two million square feet of retail space across some of the Emirate’s most popular destinations, including JBR and Souk Madinat Jumeirah, where major enhancements have taken place in the first half of 2019 to further enrich the visitor experience. Across its retail portfolio, Dubai Retail continues to achieve robust occupancy across 13 mixed-use destinations, helping attract millions of visitors to Dubai every year.
His Excellency Abdulla Ahmed Al Habbai, Chairman
As we look ahead, we will diligently deliver on our 5-year business plan that sets clear goals for all our companies. For the rest of the year, our focus will continue to be on achieving strong financial success underpinned by the performance of our recurring income business, delivery of existing pipeline projects and executing prudent operational efficiency. With EXPO 2020 around the corner, we look forward to Dubai Holding playing an important role in this landmark event, and welcoming millions of visitors to the Emirate.