Dubai Investments and Union Properties join forces to develop plots around Dubai Expo 2020 site

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By Andrew Scott www.thenational.ae

Khaled bin Kalban, the Dubai Investments chief executive, says the company will be tying up with Union Properties to develop pockets of land around Dubai’s Expo site.

Other pieces of land that the investment company owns bordering the Expo site will be developed under the DI banner.

“We will be an announcing some major projects in two to three months with regard to our sites around the Expo site,” said Mr bin Kalban yesterday. “Some we will tie up with Union Properties and others we will develop on our own as Dubai Investments.”

DI invests in joint ventures and local companies with about 40 subsidiaries. It has interests in property developers and building materials along with other businesses.

The company reported a profit of Dh800 million for 2013 and looks set to a launch a US$300m sukuk this year to finance expansion and repay debt. The sukuk under the name of Dubai Investments Park was delayed last year because of unfavourable conditions. More info