The decision comes as geopolitical uncertainty prompted many Gulf companies to postpone listings, yet Dubai Investments’ leadership remains bullish on the offering.
Vice Chairman and CEO Khalid Bin Kalban told Zawya that investor appetite remains strong. “Most of our investors are very positive and are urging us to proceed with the IPO,” he said, noting that Dubai Investments Park (DIP) has proven resilient to regional disruptions. The company will sell a 25% stake in DIP, one of the UAE’s largest mixed-use developments.
Valuation and Banking Syndicate
DIP’s valuation is expected to range between AED10.8 billion and AED11 billion, a figure Kalban described as conservative and discounted. The company is in advanced talks with investment banks including ENBD Capital, HSBC, Citi, Arqaam Capital and EFG Hermes to manage the offering.
The resilience of DIP’s fundamentals underpins investor confidence. Dubai Investments reported total income of AED4.63 billion in 2025, with rental income reaching AED1.19 billion. Long-term leases and growing rental revenues provide visibility for DIP’s cash flows, making it an attractive proposition for institutional investors seeking stable, inflation-hedged assets in the region.
Broader Portfolio Expansion
Beyond DIP, Dubai Investments is pursuing IPOs for three additional subsidiaries subject to market conditions. These include Emicool, its district cooling unit; Emirates Glass; and Globalpharma, a pharmaceutical manufacturer. Kalban confirmed there is “no change in our plans to IPO these companies in the coming years.”
The conglomerate, which operates around 35 subsidiaries across manufacturing, real estate, healthcare and investments, is also replicating the DIP model across other emirates. It is developing a 2,000-hectare integrated economic zone in Angola called DIP Angola, featuring industrial, residential and commercial zones.
The May 15 decision will test whether UAE’s capital markets can sustain momentum despite regional volatility. A green light for DIP would signal that investors differentiate between geopolitical risk and fundamentals—a critical distinction for the region’s development finance agenda.
