Dubai Investments, a government-controlled investment company, has reported a profit for 2008 of AED1.56bn ($425m), up 4 per cent on the previous year despite a writedown of AED368m on the fall in value of some of its assets.
Total assets held by the company increased by 38 per cent during 2008, rising to AED14.1bn at the end of the year.
The company says its investment portfolio mainly consists of equities, bonds and structured products.
“The fundamentals of our business remain strong due to the diversified investment base, and we are well placed to take advantage of potential opportunities in the coming months due to our strong liquidity position,” says Khalid bin Kalban, chief executive officer of Dubai Investments.
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