September 01, 2014 11:23 PM ET

Industrial Conglomerates

Company Overview of Dubai Holding LLC

Company Overview

Dubai Holding LLC is a holding company operating through its subsidiaries Dubai Holding Commercial Operations Group and Dubai Holding Investment Group. The company’s subsidiaries own and operate hospitality, technology, communication, education, finance, real estate, healthcare, leisure and entertainment, industrial manufacturing, biotechnology, energy, telecommunication, and aerospace businesses. It develops and manages a portfolio of luxury hotels and resorts, serviced apartments, spas, retail stores, wellness and leisure facilities, water parks, hospitality academies, and franchised restaurants; and onshore business parks and free trade zones that cover ICT, media, education, sciences, an...

Level 49

Emirates Towers

Sheikh Zayed Road

P.O. Box 66000

Dubai,  

United Arab Emirates

Founded in 2004

Phone:

971 4 362 2000

Fax:

971 4 362 2091

Key Executives for Dubai Holding LLC

Chief Executive Officer and Member of Senior Executive Board
President and Member of Senior Executive Board
Age: 62
Chief Operating Officer
Group Chief Executive Officer of property vertical
Member of Senior Executive Board and Executive Chairman of property vertical
Age: 50
Compensation as of Fiscal Year 2014.

Dubai Holding LLC Key Developments

Axiom Telecom Planning To Revive IPO Plans

Axiom Telecom LLC may revive its listing plans. The company stated that the company, which abandoned an initial public offering in 2010, said that it may revive plans for the sale. Chief Executive Officer, Faisal Al Bannai stated, “An IPO isn’t off the table. We’re keeping our options open. We’re making sure that all of our paperwork and documents are up to date so we’d be ready to go for an IPO at any time if we wanted to.” Two people close to the matter, seeking anonymity, stated that Dubai Holding LLC’s Emirates International Telecommunications LLC, holding 26% stake in Axiom Telecom had hired Citigroup Inc. in 2014 in order to find potential buyers for the stake. They added that the company was planning to raise as much as $300 million from the disposal though an agreement was never reached. According to the news report, representatives of Dubai Holding declined to comment while a spokesman for Citigroup in Dubai was not immediately available to comment.

Dubai Holding Plans to Build "Mall of the World"

Dubai Holding will need AED 25 billion to build an entertainment district that will include the shopping mall. The company plans to build the "Mall of the World", encompassing an 8 million square foot mall connected to a theme park, 100 hotels and serviced apartment buildings with 20,000 rooms. The whole project will be built over 10 years and the funds will be raised gradually over that period. The size of the entire project would be in the range of 48 to 50 million square feet. At least half of the funds will come from internal resources, and the rest will be accumulated through the debt market, sales of some parts of the project, revenue from leasing, and partnerships. The first phase of the project will focus on the retail aspect, including the mall, and is expected to be ready in three years.

Emirates International Reportedly Planning To Sell Axiom Telecom

Dubai Holding LLC’s Emirates International Telecommunications LLC is planning to sell stake in Axiom Telecom, LLC. According to the news report, 26% stake in Axiom Telecom is up for sale. It is also reportedly looking for a buyer for its 35% stake in Tunisie Telecom S.A. Axiom Telecom’s stake is estimated to be worth $300 million. JP Morganhas valued the Tunisie Telecom stake at $650 million.

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