Dubai Holding

Dubai Holding (rather than Dubai Holdings or Dubai Holding Company) is a substantial umbrella or holding company created by the Dubai Government in 2004 to develop large infrastructure projects in Dubai.
Dubai Holding new CEO
The CEO of Dubai Holding was Mohammed Al Gergawi (sometimes spelt Mohammad Al Gargawi / AlGergawi) until March 2009 when Ahmad Bin Byat (Ahmed Bin Bayat) was announced as the new CEO on 07 March 2009. Mr Bin Byat is also Chairman of the Emirates Integrated Telecommunications Company (EITC or Du), Chairman of the Dubai Real Estate Corporation (DREC), Chairman of the Aswaaq Founding Committee, Secretary-General of the Dubai Executive Council, and a member of the Zayed University board of trustees. Mohammed Al Gergawi is still Chairman of Dubai Holding.
Dubai Holding mergers
  • 26/27 June 2009 (news reports and Emaar press release): Emaar Properties (not a DH company) and three DH subsidiaries Dubai Properties, Sama Dubai, and Tatweer, will merge into one property company. Timeline of consolidation from June to October 2009. Talk is cheap though, in March 2007 Emaar and DH announced a land for shares deal. It came to naught in the end - Emaar cancelled the deal in August 2007.
  • February 2009: DH announced that back office operations of 3 of its subsidiaries had been merged. The companies are Dubai Properties, Mizin, and Sama Dubai.
Dubai Holding bonds
  • Maturity dates of Dubai Holding bonds in 2012, 2014 and 2017.
Dubai Holding debt
  • Dubai Holding outstanding debt estimated at $14.8 billion (Reuters 01 Oct 2010), or $12 billion (Bloomberg 29 November 2010).
  • The Dubai Government has contributed $2 billion towards payment of Dubai Holding debt from November 2009 to November 2010 according to comments from Mohammed Ibrahim Al Shaibani, the director general of Dubai ruler's court (Bloomberg 29 November 2010).
  • Table of outstanding debts below is not complete.
Subsidiary Amount Start Date Due Date
DHCOG AED 2 billion   30 November 2010
Dubai International Capital (DIC) AED 4.6 billion   30 November 2010
  • Dubai International Capital LLC (DIC) is an investment unit of Dubai Holding.
  • Dubai Holding Commercial Operations Group LLC (DHCOG) is a subsidiary of Dubai Holding.