This week, the Dubai Investment Fund (DIF), one of the world’s largest independent investment funds and asset managers, announced its expansion into three new countries. The countries will be New Zealand, the Czech Republic and Cyprus.
Currently, the company is headquartered in Dubai and 17 other locations around the world, with a total of approximately 2,600 employees. The offices in Dubai, New York, London, Tokyo, Frankfurt, Hong Kong and Shanghai are the largest.
The new offices will bring together more than 170 specialists from several fields. The first of these offices, located in Prague (Czech Republic), will open in August, followed by offices in Wellington (New Zealand) and Nicosia (Cyprus) by mid-September. Employees will have the option to work from the office, remotely or in a hybrid manner. In addition to the opening of new offices in the first quarter of 2023, the DIF workforce will continue to increase. The first is set to open in Brussels, Belgium in February.
Amir Shams, Managing Director and Managing Director of Dubai Investing Fund, said the additional offices are being opened to increase the firm’s investment activities. New real estate, tourism, banking and artificial intelligence initiatives will be developed in the Czech Republic and Cyprus offices. The New Zealand office will focus on new projects in ESG, healthcare and green energy, as these are the fastest growing sectors in the region.
In New Zealand, Dubai Investment Fund intends to invest in the construction of new solar power plants and in new biomedical initiatives that explore many compelling approaches to integrating artificial intelligence into contemporary advances in healthcare.
The company is confident that such expansion will yield positive financial returns. In addition, the fund has considerable experience in investing in artificial intelligence and ESG. According to Amir Shams, the new recruits are true experts in their field and have met rigorous selection criteria; therefore, they will use their abilities to achieve common goals. According to estimates by the company’s finance and analytics department, this development should translate into a 7% increase in the company’s profit in 2023.
DIF is present 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 expanded its global reach by adding three new countries to its portfolio, bringing the total number of countries served to twenty.
The fund manages approximately $320 billion in assets and has more than 7,300 clients in 61 countries. DIF is one of the leading investment and asset management companies in the United Arab Emirates. The company was established in 2001 to provide clients and investors with market leading returns. To achieve this goal, the organization has hired 920 qualified financial specialists. These experts have an average of 17 years of experience in their respective disciplines.
Despite the upheavals caused by the epidemic and the years that followed, DIF was able to create significant profits for its customers and partners. The company’s operating profit increased by AED14.3 billion in 2021, marking a 27% increase over the previous year’s total. This growth can be attributed to effective leadership decisions, rising commodity prices and non-oil sector returns.