MARKET PIPELINE

Dubai Investments preparing IPOs for four of its subsidiaries

The company’s business units span a range of sectors, including real estate, building materials and construction, education and financial services

A woman views the Burj al-Arab and Burj Khalifa towers from a promenade overlooking the Dubai skyline on January 4, 2025. (Photo by Giuseppe CACACE / AFP)

After leading the Gulf region as a source for IPOs last year, the UAE is kicking off 2025 with a new slate of stock offerings.

Dubai Investments, which is backed by the sovereign wealth fund Investment Corporation of Dubai, plans to take four of its subsidiaries public this year, CEO Khalid bin Kalba tells The National.

The company’s business units span a range of sectors, including real estate, building materials and construction, education and financial services, though Bin Kalba declined to be specific. “We talked to the local authorities with [regards to] our intention to IPO,” he said.

“The discussion is going on now [around] what multiples we are going to get and what value we are going to get for our divestments.”