Dubai Holding outlines six-month growth plan

Dubai Holding said on Thursday that its focus for the rest of the year would continue to be on achieving strong financial success "underpinned by the performance of its recurring income business, delivery of existing pipeline projects and executing prudent operational efficiency."

"With Expo 2020 around the corner, we look forward to Dubai Holding playing an important role in this landmark event, and welcoming millions of visitors to the emirate," said the diversified company with a presence in over 10 countries.

Dubai Holding's companies include Jumeirah Group, Tecom Group, Dubai Properties, Dubai Asset Management, Arab Media Group, and Dubai Retail.

On the company's performance in the first half of 2019, Abdulla Al Habbai, Chairman of Dubai Holding, said the group continues to deliver on the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to further position the emirate as a preeminent business and leisure destination.

"As a group, we have delivered a number of critical projects across a range of industries, while maintaining our focus on empowering our Emirati employees, with the appointment of three Emirati women from within the organisation to leadership roles across the group. As we look ahead, we will diligently deliver on our five-year business plan that sets clear goals for all our companies," said Al Habbai.

In the first half, Dubai Holding unveiled the second and third phases of its popular Madinat Jumeirah Living project, a 3.85 million square feet residential development overlooking Burj Al Arab Jumeirah, while D-Marin Dubai, the joint venture established between Meraas, Dubai Holding and D-Marin, one of the largest marina chains in the Eastern Mediterranean, commenced operations and now manages Al Seef, Marasi and Jaddaf Waterfront marinas in Dubai. Tecom Group, which today has 11 business districts across six sectors, welcomed to its various communities international partners including EnviroServe, the first integrated electric and electronic waste recycling facility in Dubai Industrial City with a Dh120 million investment.

During the first half of 2019, Jumeirah Group maintained its status as Dubai's premium hospitality company. With above market occupancy rates across its properties, Jumeirah Hotels and Resorts continued its expansion with the opening of a number of hotels, including Jumeirah at Saadiyat Island Resort and Jumeirah Al Wathba Desert Resort & Spa.

Dubai Asset Management expanded its footprint to the prestigious Jaddaf Waterfront with the addition of Dubai Wharf and Manazel Al Khor communities to its portfolio. Its occupancy levels continue to stand at 95 per cent, with approximately 100,000 residents living in its communities across Dubai. Dubai Properties has successfully released more than 500 units across two major projects in Dubai, including La Rosa at Villanova in Dubailand, while continuing to hand over to owners units across its various communities. Due to attractive features and payment options, the project has piqued investor interest and achieved solid sales since the releases in April and June.

Arab Media Group's Arabian Radio Network continued to attract over four million weekly listeners, while season 23 of Global Village welcomed for the first time more than seven million guests. Dubai Retail continues to operate over two million square feet of retail space across some of the Emirate's most popular destinations, including JBR and Souk Madinat Jumeirah, where major enhancements have taken place in the first half of 2019 to further enrich the visitor experience.