Dubai Holding to focus on recurring income gains

Dubai: Dubai Holding, which lists Tecom Group and Jumeirah among its entities, will be focusing on “recurring income business” to attain growth targets through the rest of the year. Other gains will come from delivery of existing projects and “executing prudent operational efficiency”.

“We will diligently deliver on our five-year business plan that sets clear goals for all our companies,” said Abdulla Al Habbai, Chairman of Dubai Holding, in a statement. “We have delivered a number of critical projects across a range of industries.

“This year marks 15 years since Dubai Holding was created, and since then, the organisation has been committed to strengthening Dubai’s socio-economic fabric by bringing communities together, enhancing the business ecosystem, and driving investment into key economic sectors.”

The holding company, which operates in 12 business sectors, launched the second and third phases of its Madinat Jumeirah Living project, a 3.85 million square feet residential development overlooking Burj Al Arab Jumeirah. D-Marin Dubai, the joint venture established between Meraas, Dubai Holding and D-Marin, commenced operations and now manages Al Seef, Marasi and Jaddaf Waterfront marinas.

Dubai Properties released more than 500 units across two major projects in Dubai, “while continuing to hand over to owners units across its various communities”, the company said in a statement.

“Overall, we had a robust operational performance in the first half of 2019, marked by multiple successes and achievements which have enhanced Dubai Holding’s contributions towards shaping Dubai’s future,” said Al Habbai.