Dubai Investment Fund (DIF), one of the world’s biggest independent investment funds and asset manager, announced this week its global expansion to three new countries.They will be New Zealand, Czech Republic and Cyprus.
As of now, the company has its headquarters in Dubai and 17 more offices worldwide with the total number of employees about 2600 people. The biggest of them are offices in Dubai, New York, London, Tokyo, Frankfurt, Hong Kong and Shanghai.
The new offices will unite more than 170 specialists in various areas. The first of these offices, in Prague (Czech Republic), will start operating in August, while offices in Wellington (New Zealand) and Nicosia (Cyprus) should start their work by mid-september. Employees will be offered the opportunity to choose one of the work options – from company space, remotely or in a combination. The number of employees in DIF will continue to grow, as the opening of new offices is also scheduled for the first quarter of 2023. The first of them should start working next February in Brussels, Belgium.
Dubai Investment Fund’s chief executive and managing director Amir Shams said that the new offices are being opened to expand the company’s investment activities. Offices in the Czech Republic and Cyprus will work on new projects in real estate, tourism, finance, artificial intelligence and new technologies. The New Zealand office will focus on new projects in the fields of ESG, healthcare, and green energy, as these are the fastest growing sectors in the region.
In New Zealand, Dubai Investment Fund is planning to invest in the construction of new solar power plants, as well as innovative biomedical projects that are exploring various effective ways to implement artificial intelligence in modern healthcare developments.
The company is confident that such an expansion in these areas will bring good financial results. Moreover, the fund has serious experience in investing in the field of artificial intelligence and ESG in the previous few years.
According to Amir Shams, the newly hired employees are true professionals in their field and have passed strict selection criteria so they should use their potential to the maximum to achieve common goals.
According to the calculations of company’s financial and analytical department, this expansion should lead to an increase in the company’s profit by approximately 7% in 2023.
Currently, DIF has presence in 17 countries and has offices in Dubai, London, Sydney, Mumbai, Tokyo, New York, Frankfurt, Zurich, Quebec, Hong Kong, Jakarta, Seoul, Milan, Singapore, Luxembourg, Shanghai and Barcelona. The company recently increased its worldwide presence by including an extra three nations in its portfolio to a total of twenty.
The fund manages assets totaling more than $320 billion and has more than 7,300 customers located in 61 different countries. DIF is one of the largest investment and asset management organizations in the United Arab Emirates. The company was founded in 2001 to provide clients and partners with market-leading returns. To accomplish this objective, the company has recruited a total of 920 competent finance professionals. Each of these professionals has an average of 17 years of expertise in their respective fields.
DIF managed to generate high returns for its clients and partners, despite the upheaval that occurred during the pandemic and the years that followed it. The corporation recorded an increase in operating income of AED 14.3 billion in 2021, representing a 27 percent increase compared to the previous year’s total. This increase can be attributed to a combination of successful leadership decisions, rising commodities prices, and returns from the non-oil sectors.