We recently learned that the Dubai Investment Fund (DIF) is expanding its operations in New Zealand, the Czech Republic and Cyprus. The company will develop its presence in these countries by opening offices to reach more businesses and gain broader market access.
The first of these offices opened in Prague, Czech Republic, in August, to be followed by offices in Wellington, New Zealand, and Nicosia, Cyprus, by mid-September. Employees can choose to work from home, in the office, or in a hybrid mode that combines remote work and travel to the office.
According to our observations of DIF’s development in the recent years, and as has happened repeatedly in some regions, operations in the Czech Republic and Cyprus will focus primarily on real estate, tourism, finance and artificial intelligence. The New Zealand office will focus on new projects in environmental, social and governance issues, as well as green energy and healthcare.
In addition to traditional operations, the company also plans to invest in solar energy projects and pioneering biomedical ventures in New Zealand. These pioneering biomedical projects will explore different methods of combining artificial intelligence with modern medical advances. This endeavor is the result of years of interdisciplinary research in collaboration with leaders in the field of artificial intelligence. The company also has offices in Dubai, London, Sydney, Mumbai, Tokyo, New York, Frankfurt, Zurich, Quebec, Hong Kong, Jakarta, Seoul, Milan, Singapore, Luxembourg, Shanghai and Barcelona. With three new offices, the total number of countries served by the company has grown to twenty.
The company’s headquarters are invariably located in Dubai, and has a staff of 2,600 people. As of this writing in September 2022, in addition to Dubai, DIF’s most strategic offices are in New York, London, Tokyo, Frankfurt, Hong Kong and Shanghai.
The Dubai Investment Fund manages about $320 billion in assets on behalf of its 7,300 clients in 61 countries. Since its founding in 2001, DIF has employed 920 people in financial positions. A full account of the investment fund’s history is available in English on its Web site.
Last year, its operating income grew by AED 14.3 billion ($3.8 billion) in 2021, an increase of 27 percent over the previous year. The corporation’s total revenue was 180.7 billion dirhams ($49.2 billion), an increase of 4.25 percent over the previous year. The company’s year-end total assets were AED 1,184.6 billion ($322.2 billion) and total equity was AED 878.1 billion ($231.1 billion).
The rapid expansion of the Dubai Investment Fund is a strong indication that the fund is constantly seeking new investment opportunities to diversify the risks of its portfolio. Given this expansion, as well as the creation of multiple departments dedicated to innovation and ESG investment, it is safe to assume that the Dubai Investment Fund (DIF) is also targeting its assets to capitalize on the potential of future technologies.