DUBAI 18 April 2017: Dubai Holding has adopted a new business model and organisational structure – and will stay as an independent entity.
The new model focuses on debt management programme to deliver stronger balance sheet and seeks to enhance Dubai Holding’s role in Dubai’s economic diversification.
Sheikh Maktoum bin Mohammed Al Maktoum, Deputy Ruler of Dubai reviewed Dubai Holding’s new strategic direction aimed at boosting the group’s future growth as a stand-alone entity in a meeting held at group offices in Jumeirah Emirates Towers. The meeting was attended by Abdulla Al Habbai, newly appointed Chairman of Dubai Holding and Edris Alrafi, Chief Executive Officer of Dubai Holding.
Dubai Holding will establish a new organisational framework, focus on growth in key priority sectors and launch new initiatives to ensure sustained growth across the board.
The meeting focused on Dubai Holding’s vision for the future, its vital role in supporting Dubai’s economic diversification and commitment to honour all existing obligations across the group.
“Dubai Holding is a key pillar in achieving the growth and the ambitious socio-economic development of Dubai and the wider UAE. It plays a crucial role in implementation of the leadership’s vision to solidify the country’s strategic position globally. We look forward to strengthen the group’s performance through enhanced administrative and operational structures and boost its contribution to Dubai’s future growth as set out in the Dubai Plan 2021,” said Sheikh Maktoum.
Al Habbai said Dubai Holding is in a significant phase of its corporate evolution as it addresses legacy liabilities and reshapes its business model to drive further growth.
“Dubai Holding will continue to operate as a stand-alone entity and there are no plans to merge it with any other company,” he said.
The new model is intended to achieve a stronger balance sheet and greater financial capacity for the group at large. With these efforts, Dubai Holding is firmly positioned on the path of sustained growth and seeks to become a national champion with truly international reach.”
By Rajive Singh