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Mar, 20 2018

Dubai Investments subsidiary Masharie LLC divests stake in Drive Dubai

The Masharie portfolio is made up of nine subsidiaries in different sectors, including aluminum extrusion, architectural aluminum designs, interior fit-outs, lighting fixtures and laboratory furniture.

Dubai Investments subsidiary Masharie LLC divests stake in Drive Dubai

Dubai Investments subsidiary Masharie LLC has divested 50 percent stake, for AED 35 million in the Dubai International Driving Centre, known as Drive Dubai.

According to Dubai Investments, the stake sale generated an internal rate of return of 21 percent.

Masharie was one of the delegates of Drive Dubai in December 2012. Drive Dubai currently in partnership with the Belhasa International Group of Companies and the Saif Belhasa Group operates an 850,000 square foot training facility in Dubai Investments Park (DIP).

 Dubai Investments CEO and managing director Khalid bin Kalban said, “Dubai Investments invested in Drive Dubai six years back, amidst massive growth potential and demand for a comprehensive driving school within DIP. Drive Dubai has grown phenomenally over the years, and it was a profitable exit for Dubai Investments.”

Bin Kalban also said,” Dubai Investments is on track to achieve its growth plans, with a focus on enhancing its investments in various sectors.”

The Masharie portfolio is made up of nine subsidiaries in different sectors, including aluminum extrusion, architectural aluminum designs, interior fit-outs, lighting fixtures and laboratory furniture.

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