Dubai Holding’s 2013 profits to exceed $816 million

Dubai Holding chairman Mohammad Abdulla al-Gergawi said the company’s profits of the outgoing year of 2013 were “excellent.”

Speaking from the World Economic Forum (WEF) in Davos on Wednesday, Gergawi told Al Arabiya's presenter Fatima Zahra Daoui that he expected the profits in 2013 to exceed $816 million (AED 3 billion) compared to 2012.

“Dubai Holding results were excellent in 2013. The profits in 2013 will double those of last year and will exceed AED 3 billion,” he said.

Dubai Holding is a global investment holding company with interests in 24 countries.

The total assets of the group at the end of 2012 amounted to 86.33 billion dirhams.

Gergawi stressed the importance of Arab participation at the WEF held in Davos, Switzerland.

He pointed out that the Arab presence is strong in this year’s edition.

“The Arab presence here in Davos is strong. We come to Davos every year to learn what will happen in the coming period through attending workshops, forums or meeting keynote speakers.

“We also have a strategic cooperation with the World Economic Forum in Davos and today it has also been agreed that WEF will be a partner in an upcoming economic forum in the UAE,” he added.