#Dubal Holding posts 37% surge in 2022 net profit to $1bln

Dubal Holding posts 37% surge in 2022 net profit to $1bln

Dubal Holding (DH), the investment arm of the Dubai Government in the commodities and mining, power and energy, and industrial sectors, has reported a net profit of AED3.7 billion ($1 billion) in 2022, up 37% from AED2.7 billion of 2021.

This was disclosed at the annual general meeting of Dubal Holding, which was presided over by its chairman, Saeed Mohammed Al Tayer.

Members of the board and management of DH were present at the meeting, along with its auditors and shareholder representatives from Investment Corporation of Dubai (ICD). The company witnessed an exceptional year owing to a combination of optimal investments in multiple industrial sectors and efficient operational performance.

With the laying of the foundation stone for a titanium slag facility in the Sohar Free Zone in Oman, the Sohar Titanium Project, a strategic project with Dubal Holding as one of the shareholders, made good progress during the year. By mid-2025, it's anticipated that the facility will commence operations.