Recent Research

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  FIRST LOOK NOTES

  20 Aug 2026

  Dubai Investments Company (DIC...

  HOLD

  Last Closing Price

  3.66

  Target Price

  4.00

  Upside (%)

  +9.29%

  UAE Equity Research - Dubai Investments PJSC (DIC) 2Q26 - First Look Note

  Total income grew 19.4% YOY to AED 1.3 Bn in 2Q26, driven by growth across Property, Manufacturing & Contracting, and Investments segments. Completed final handover of all 189 villas at Danah Bay, while construction of the 143-unit residential tower reached 38%.

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• 

  FIRST LOOK NOTES

  30 Mar 2026

  Dubai Investments Company (DIC...

  HOLD

  Last Closing Price

  3.83

  Target Price

  4.00

  Upside (%)

  +4.44%

  UAE Equity Research - Dubai Investments Co (DIC) 4Q25 - First Look Note

  Continued investments in capacity expansion, advanced technologies, and value-added products are expected to drive higher volumes in the Manufacturing Segment. Dubai Investments launched the AED 1.3 Bn Al Vista mixed-use development, strengthening its real estate pipeline.

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• 

  FIRST LOOK NOTES

  12 Aug 2025

  Dubai Investments Company (DIC...

  HOLD

  Last Closing Price

  2.88

  Target Price

  2.80

  Upside (%)

  -2.78%

  UAE Equity Research - Dubai Investments PJSC (DIC) 2Q25 - First Look Note

  Income from the Manufacturing and Contracting Segment grew 23.9% YOY to AED 359 Mn in 2Q25, mainly attributable to higher sale of goods and services and contract revenue. Income from the Investments segment fell substantially from AED 109 Mn in 2Q24 to AED 51 Mn in 2Q25, due to lower gains on investments.

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• 

  FIRST LOOK NOTES

  13 May 2025

  Dubai Investments Company (DIC...

  HOLD

  Last Closing Price

  2.35

  Target Price

  2.40

  Upside (%)

  +2.13%

  UAE Equity Research - Dubai Investments PJSC (DIC) 1Q25 - First Look Note

  Income from the Manufacturing and Contracting Segment grew 21.7% YOY to AED 352 Mn in 1Q25, mainly attributable to higher sale of goods and services and contract revenue.

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• 

  FIRST LOOK NOTES

  18 Mar 2025

  Dubai Investments Company (DIC...

  HOLD

  Last Closing Price

  2.36

  Target Price

  2.40

  Upside (%)

  +1.69%

  UAE Equity Research - Dubai Investments PJSC (DIC) 4Q24 - First Look Note

  Income from the Property Segment grew 68.8% YOY to AED 1.3 Bn in 4Q24, mainly attributable to higher gains on fair valuation of investment properties. Violet Tower project is steadily progressing with expected completion by 4Q26.

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• 

  FIRST LOOK NOTES

  20 Nov 2024

  Dubai Investments Company (DIC...

  BUY

  Last Closing Price

  2.09

  Target Price

  2.40

  Upside (%)

  +14.83%

  UAE Equity Research - Dubai Investments Company (DIC) 3Q24 - First Look Note

  Income from the Investment Segment grew 224.1% YOY to AED 112 Mn in 3Q24, mainly attributable to higher gains on fair valuation of investments. Development of Phase 1 of the Danah Bay project progressed as planned in 3Q24 and is anticipated to be completed by 1Q25.

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