DUBAI: Chief Executive Officer and Managing Director of Dubai Investments PJSC, Khalid bin Kalban, said that Dubai investment plans to develop industrial cluster costing SR1.2 billion (Dh1.2 billion) in which Dubai Investments will have 20 percent stake.
Modelled on the company’s successful Dubai Investment Park (DIP), the Riyadh project will encompass 11,000 square metres of land.
There are also plans to develop two more projects in Saudi Arabia with partners there.
The group also aims for a wider cross-border foray with new industrial parks. As part of the drive, a land area of 45,000-50,000 square kilometres has been acquired in Angola. Tunisia and Morocco are also on the radar.
Bin Kalban said Dubai Investments has identified some sectors and promising growth markets which provide the stimulus to invest and generate high returns.
“The company plans to continue its international expansion plans and leverage its business models across newer markets, particularly in the Middle East, Africa and Asia,” he said at a media briefing.
The focus on global expansion comes close on the heels of Dubai Investments announcing the launch of Dubai Investments International — its wholly-owned subsidiary targeting strategic partnerships and forays in global markets. DI International is currently in advanced stages of negotiations with prospective partners across the region and beyond.
Dubai Investments will also be looking to create bases for some of the light manufacturing operations in its portfolio.
