Sheikh Mohammed establishes Dubai Investment Fund to steer DEWA, Salik, and Dubai Taxi Company Assets

We all know Dubai is on the economical wave, steering funds across various government initiatives such as DEWA, Salik, and Dubai Taxi Company. To better manage the steering of these funds, the Dubai government has allocated a more streamlined service.

You might ask - what is that?

In a strategic move to streamline and fortify government investments, Sheikh Mohammed has established the Dubai Investment Fund. An independent public entity that operates commercially, overseeing all government investments, including major entities like the Dubai Electricity and Water Authority (DEWA), Salik Company, and Dubai Taxi Company.

Let us give you the full breakdown!

What is the Dubai Investment Fund?

Dubai Investment Fund is an independent international asset and investment management company that houses assets worth billions of dollars and invests government money locally and internationally for economic growth.

Diving into the key highlights about the Dubai Investment Fund’s plans:

Dubai’s financial independence: The Dubai Investment Fund operates with financial and administrative independence, ensuring effective pursuit of its objectives.

Strategic investments for the future: This fund is created to invest Dubai Government funds, surpluses, and the general reserve both locally and internationally. It aims to generate returns for current and future generations while matching with approved investment policies.

Financial stability for the government: This fund contributes to Dubai's financial stability by financing government deficits and establishing growth in the different financial reserves, promoting long-term sustainability.

Strategic priorities for the future: It actively supports the realisation of the emirate's strategic priorities and endorsed public policies through efficient investments in strategic and development projects.

The investment powers of the Dubai Investment Fund:

The Dubai Investment Fund has many investment powers, including investing in government surpluses, establishing companies independently or collaboratively, acquiring or merging companies, and holding stakes in various projects.

This way, The Fund can explore investments in stocks, bonds, and securities, both in local and international markets, adhering to approved investment policies. Additionally, it can engage in movable and immovable assets, manage funds, provide mortgages and guarantees, and participate in the financial derivatives business.

The strategic priorities and development projects behind The Fund:

The Fund is not just about finances; it's about actively contributing to Dubai's strategic priorities and endorsed public policies. By efficiently investing in strategic and development projects, with a special focus on sustainable development, the Fund aims to diversify income sources and ensure long-term financial sustainability.

The formation of the board and leadership

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, and Chairman of The Executive Council of Dubai, has announced the formation of the Fund's Board of Directors.

It will be chaired by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, and the board will comprise of key figures like Abdulrahman Saleh Al Saleh and Abdulaziz Mohammed Al Mulla, with Abdulaziz Mohammed Al Mulla appointed as the Managing Director and CEO.

The vast powers and responsibilities in The Fund:

The law specifies that the Dubai Investment Fund will assume diverse roles and responsibilities without infringing upon the powers granted to the Investment Corporation of Dubai. From investing in surpluses to exploring prospects in local and international financial markets, the Fund has a broad scope of powers in decision-making.

This is definitely set to reshape the government and the allocation of funds across Dubai.

Impressive, isn’t it?

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