Dubai Investment (p.j.s.c) · DFM:DIC
Dubai Investment (p.j.s.c) — DIP Holding — Corporate Update (February 2026)
106 slides from Dubai Investment (p.j.s.c)'s corporate update, February 2026
Slide 1: Corporate Update
Corporate Update February 2026
Slide 2: Disclaimer
Disclaimer This document has been prepared for information purposes only by DIP Holding Limited (the "Company") and Dubai Investments PJSC (the "Shareholder") and should not be relied upon, or form the basis of any action or decision, by any person. Nothing in this document is, nor shall be relied o
Slide 3: Introduction to DIP
SECTION 1 Introduction to DIP
Slide 4: Dubai Investments Park (DIP) today
Dubai Investments Park (DIP) today A B C Differentiated infrastructure- Blue chip sponsor & Fully integrated ecosystem like business model experienced management c.1,000+ c.99% 23m sqm tenants of leases are for 27 “City-within- c.98% c.5,000 30+ years1 average years of a-city” sub-leases average occ
Slide 5: A Differentiated multi-dimensional infrastructure ecosystem in a strategic location in Dubai
A Differentiated multi-dimensional infrastructure ecosystem in a strategic location in Dubai DIP is a ground rent and services platform that provides critical recurring services to tenants across a variety of key sectors from its strategic location within Dubai Masterplan E11 – Sheikh Zayed Road E44
Slide 6: Infrastructure-like ground rent and services platform
B Infrastructure-like ground rent and services platform What DIP undertakes What DIP does not undertake DIP operates at ground level… …while real estate businesses operate above the ground Infrastructure enablement across strategic sites and development of communal and social infrastructure Land acq
Slide 7: Evolution of DIP: Delivering excellence since 1999
C Evolution of DIP: Delivering excellence since 1999 Major residential Agreement announced Lease granted and complex developed - No. of sub-tenants 99.9% occupancy with Emirates for a new master plan approved Green Community DIP Over 1,000 plots leased reaches over 3,000 reached Cabin Crew Village 1
Slide 8: Key corporate highlights
SECTION 2 Key corporate highlights
Slide 9: A leading UAE infrastructure-like ground rent and services platform
A leading UAE infrastructure-like ground rent and services platform UAE +20% 1 Attractive macro environment and proactive government initiatives backdrop CAGR FDI 2015-2024 8% 14% Logistics 2 Ecosystem Operating Diverse multi-sector ecosystem in a strategic location lease 49% GLA Industrial Resident
Slide 10: Compelling macro environment accelerating the UAE's growth
UAE backdrop Ecosystem Model Operations Cash flow Growth Excellence 1 Compelling macro environment accelerating the UAE’s growth The UAE’s macroeconomic strength and policy framework underpin sustained growth and investment attractiveness National UAE ranked #1 AA #1 ease of doing investment globall
Slide 11: Strategically located, with easy access to the UAE's largest arterial highways, ports and airports
UAE backdrop Ecosystem Model Operations Cash flow Growth Excellence 2 Strategically located, with easy access to the UAE’s largest arterial highways, ports and airports 1 2 3 15 mins 4 5 6 23 mins 15 mins 11 mins 30 mins 35 mins Direct access to Expo City Dubai / Al Maktoum Airport Jebel Ali Port Re
Slide 12: Comprehensive ecosystem offering diversity
UAE backdrop Ecosystem Model Operations Cash flow Growth Excellence 2 Comprehensive ecosystem offering diversity through… 01 … sticky and predictable revenue streams…1 … blue-chip tenant and sub-tenant base… 02 Blue chip tenants & sub-tenants Contracted Visible sub- Recurring ancillary and c.1,000+
Slide 13: DIP offers a truly distinctive value proposition in the UAE
UAE backdrop Ecosystem Model Operations Cash flow Growth Excellence 3 DIP offers a truly distinctive value proposition in the UAE Free-standing industrial Industrial / Logistics parks Real Estate businesses areas A range of differentiated - Ras Al Khor Industrial Leading Industrial / Prominent Real
Slide 14: Strong operational capabilities that drive value creation
UAE backdrop Ecosystem Model Operations Cash flow Growth Excellence 4 Strong operational capabilities that drive value creation 1 2 3 Operational Community infrastructure Tenant Digital suite capabilities services relationship ◆ Provide premium community ◆ Seasoned tenant relationship team ◆ Compreh
Slide 15: Proven operational efficiency drives 70%+ Adj. EBITDA margins
UAE backdrop Ecosystem Model Operations Cash flow Growth Excellence 5 Proven operational efficiency drives 70%+ Adj. EBITDA margins and robust profitability Commentary Driving strong margins through fortified financials Revenue & y-o-y growth | AEDm, % Adjusted EBITDA2 & adj. EBITDA margin | AEDm, %
Slide 16: Limited capex requirements drive robust cash conversion and dividends
UAE backdrop Ecosystem Model Operations Cash flow Growth Excellence 5 Limited capex requirements drive robust cash conversion and dividends Commentary Prudent capital allocation strategy supported by low capex and robust cash conversion Capex1, capex as % of revenue and cash conversion2 | AEDm, % Di
Slide 17: Defined growth trajectory rooted in visible medium-term growth
UAE backdrop Ecosystem Model Operations Cash flow Growth Excellence 6 Defined growth trajectory rooted in visible medium-term growth Potential accretive A Organic growth - Active asset management B inorganic growth 19% Expanding DIP’s differentiated business model Total sub-leasing across targeted s
Slide 18: Seasoned management team with a solid ESG framework
UAE backdrop Ecosystem Model Operations Cash flow Growth Excellence 7 Seasoned management team with a solid ESG framework, supported by the Dubai Investments ecosystem Key DIP management Fully enabled platform supported by the Dubai Investments ecosystem Omar Almesmar Rohan Pradhan General Manager H
Slide 19: Macro and market
disriga uy cpl pa I) DIPHOLDING SECTION 3 Macro and market
Slide 20: Key infra developments set to anchor Dubai Southern Corridor growth
Key infra developments are set to anchor Dubai Southern Corridor’s population, employment, and investment growth Aviation, rail, and coastal megaprojects are shifting Dubai’s growth south, strengthening industrial demand and long-term value across the Southern Corridor Al Maktoum Etihad Rail Jebel A
Slide 21: Strong upward momentum in Dubai ground lease rates
Strong upward momentum in Dubai ground lease rates Supply / demand imbalances driving industrial and logistics ground lease pickup… Dubai industrial & logistics ground lease rates Dubai industrial & logistics ground lease rates (average AED/sqm across different hubs) (across different hubs in AED/sq
Slide 22: Built-up area transactions continue to grow across Dubai
Built-up area transactions continue to grow across Dubai Logistics Industrial Dubai Logistics rental transaction volume, AEDbn Dubai Industrial rental transactions volume, AEDm 127 2.0 83 1.1 2021 2025 2021 2025 Reflecting sustained demand for Driven by manufacturing expansion, light industrial larg
Slide 23: Business overview
SECTION 4a Business overview
Slide 24: Solid ground rent business model, providing predictable, visible long-term revenue
Solid ground rent business model, providing predictable, visible long-term revenue Ground rent sits in the most senior level in the capital structure of a tenant, more senior than other financial commitments Tenant Recurring infrastructure-like revenue streams C Ancillary income Transfer of lease in
Slide 25: Operating lease model supported by strategic finance leases
Operating lease model supported by strategic finance leases Operating vs. finance leases (FY25) Contractual term Operating lease Finance lease ◆ 30 years, with 20% uplift after first 5 years, then ◆ Covers substantially all economic life Lease term revised every 5 years based on market rates 27% Eco
Slide 26: Robust regulatory framework provides DIP with commercial flexibility
Robust regulatory framework provides DIP with commercial flexibility Emirate-level regulators Dubai Land Dubai Municipality Real Estate Regulatory Department (DLD) (DM) Agency (RERA) Pricing flexibility Robust regulatory framework (Not regulated by RERA) (Regulated by RERA) No rent caps apply to lea
Slide 27: Stable long term ground rent from a diversified tenant base
Ground rental income Sub-leasing income Ancillary income 1 Stable long term ground rent derived from a highly diversified high quality tenant base driving steady visible growth 62% of revenue1 Diverse tenant base… …spanning four zones Long term contract length2 Limited revenue concentration (FY25)2
Slide 28: Sub-leasing income derived from c.5,000 sub-tenants
Ground rental income Sub-leasing income Ancillary income 2 Sub-leasing income derived from c.5,000 sub-tenants throughout diverse sectors 16% of revenue1 Diversified sub-tenant clusters (FY25) Sub-leasing income by sector (FY25) AEDm 11% CAGR 150 16% 23-25 3.3m sqm 160 11 115 13% 140 Built-up sub- 1
Slide 29: Contracted stable recurring revenue from infrastructure services
Ground rental income Sub-leasing income Ancillary income 3 Contracted stable recurring revenue from the provision of infrastructure services 22% of revenue1 Service charges Sewerage and irrigation services revenue Transfer of lease income (7% of total revenues1) (10% of total revenues1) (6% of total
Slide 30: Ecosystem overview
SECTION 4b Ecosystem overview
Slide 31: A unique ecosystem with over 1,000 tenants across four sectors
DIP operates a unique ecosystem with over 1,000+ tenants, across four diverse sectors 2 INDUSTRIAL 1 LOGISTICS Aujan Gulf News Al Tayer Group Coca Cola Dubai 44% of Transmed 17% of Refreshments revenue1 revenue1 Global Pharma Aldar Danzas Al Bayan Hassani Group ◆ Suited to a wide range of ◆ Suited f
Slide 32: Logistics: prime positioning drove consistent growth
1 Logistics: DIP's prime positioning drove consistent and steady growth across revenue streams in the logistics sector 44% of revenue1 Revenue evolution Key tenants & sub-tenants AEDm CAGR 23-25 500 422 Total: 13% Al Tayer Group 362 332 450 59 20% 400 40 99 41 350 300 250 68 77 Transmed 200 21% 222
Slide 33: Industrial: prime location made it a hub for industrial businesses
2 Industrial: DIP’s prime location has made it a hub for industrial businesses across sectors 17% of revenue1 Revenue evolution Key tenants & sub-tenants AEDm 169 CAGR 23-25 200 162 161 Total: (3%) Aujan Gulf News Decrease Coca Cola 180 33 31 due to 2% 34 Dubai 160 11 9 industrial 9 140 tenants re-
Slide 34: Residential: diverse range of living spaces
3 Residential: Diverse range of living spaces, including villas, various apartment styles, and staff accommodation 29% of revenue1 Revenue evolution Key tenants & sub-tenants 350 AEDm 277 CAGR 23-25 300 228 252 Total: 10% Emirates 102 16% 250 200 76 93 Green Community 20 21 32 29% 150 Ritaj 143 100
Slide 35: Commercial: wide range of premises for commercial use
4 Commercial: A wide range of premises available for commercial use 10% of revenue1 Revenue evolution Key tenants & sub-tenants AEDm 115 CAGR 23-25 109 Decrease Total: (4%) Carrefour NMC Lulu 140 99 10 due to 120 9 8 54% 100 8 21 Marriott sale of 11 International School 80 NMC 13% 98 60 92 Hospital
Slide 36: Operational overview
SECTION 4c Operational overview
Slide 37: Proven operational capabilities driving sustainable value creation
Proven operational capabilities driving sustainable value creation 1 Community 2 Tenant 3 Digital suite Infrastructure Services relationship Comprehensive Robust city-wide infrastructure Seamless tenant experience e-services platform 1 20 1.5% 1.6% 1.8% 100% 18 1.2% 1.6% 90% 5m 16 80% 1.4% 14 70% 1.
Slide 38: A comprehensive ecosystem enabled by reliable infrastructure
A comprehensive ecosystem enabled by reliable infrastructure and a long-term commitment to its stakeholders Social infrastructure Transport infrastructure Carrefour NMC Royal Hospital Parks Road systems DIP Metro Station • Provides essential retail • Offers healthcare services • Well-planned green s
Slide 39: Growth strategy
disriga uy cpl pa I) DIPHOLDING SECTION 5 Growth strategy
Slide 40: 11.5m sqm to be re-priced over the next 5 years
Ground rent recalibration Rising sub-lease rates Tenant repositioning initiatives Inorganic growth 1 11.5m sqm to be re-priced over the next 5 years, representing significant visible growth 11.5m sqm of leased area, c.90% of total area under operating lease, to be re-priced over the next 5 years1,2
Slide 41: Rising rent levels and demand driving higher sub-leasing income
Ground rent recalibration Rising sub-lease rates Tenant repositioning initiatives Inorganic growth 2 Rising rent levels, increasing demand, and expansion of the city into the South of Dubai are driving higher sub-leasing income Sub-leasing occupancy continues to rise as tenants are incentivised to s
Slide 42: Prime location has incentivised tenants to reposition up the value chain
Ground rent recalibration Rising sub-lease rates Tenant repositioning initiatives Inorganic growth 3 DIP’s prime location has incentivised tenants to reposition up the value chain Repositioning to logistics provides DIP with uplift in ground rents, as well as additional opportunities for sub-leasing
Slide 43: Compelling expansion opportunity across adjacent markets
Ground rent recalibration Rising sub-lease rates Tenant repositioning initiatives Inorganic growth B Compelling expansion opportunity across adjacent markets for DIP to capitalise on Potential to expand the DIP model across the UAE, especially in emirates where the industrial & logistics sector is b
Slide 44: Governance, employees and ESG
SECTION 6 Governance, employees and ESG
Slide 45: Well-defined organisational structure backed by a seasoned management team
Well-defined organisational structure backed by a strong and seasoned management team Organisational structure SLA with DIC Board of Directors Nomination & remuneration DIP Holding Company secretary Audit committee Fady Kayyal committee CEO Omar Almesmar Investor relations CFO Executive assistant In
Slide 46: Historical financial performance
SECTION 7 Historical financial performance
Slide 47: Financial snapshot
Financial snapshot Ancillary revenues (from both operating and finance leases) 1 2 3 4 5 Sewerage & irrigation Transfer of lease Rental income Sub-leasing income Service charges Total revenue services revenue income Income from ground Income from charges Income from Income from rent through on sub-l
Slide 48: Summary of key income statement items
Summary of key income statement items AEDm 2023A 2024A 2025A Commentary 2 Rental income 572 604 593 1 Growth in revenue demonstrated by steady Sub-leasing income 106 115 150 growth in rental income and substantial growth in Sewerage and irrigation services revenue 82 88 96 sub-leasing and ancillar
Slide 49: Adjusted EBITDA reconciliation
Adjusted EBITDA reconciliation AEDm 2023A 2024A 2025A Commentary 1 Strong growth in net profit driven by strong 1 Net profit 664 957 1,093 underlying business performance (+) Current tax expense - 39 59 2 Deferred tax expenses driven by fair value gains of 2 (+) Deferred tax expense - 53 47 inve
Slide 50: Well invested portfolio with optimised capex and strong returns
Well invested portfolio with optimised capital expenditure spend and strong returns Commentary Total capex1 1.5% 1.2% 1.6% % of revenue Total capex increased minimally remaining stable at less than 2% of revenues, given low 97.8% 98.4% 97.8% maintenance requirement due to the nature of Cash conver
Slide 51: Robust balance sheet underpinned by well-structured capital framework
Robust balance sheet underpinned by an optimal and well-structured capital framework Commentary Debt metrics (AEDm) 2023A 2024A 2025A 1 Balance sheet robustness underpinned by ample covenant headroom (4.0x net debt/adjusted 2 Total bank borrowings 1,955 2,077 2,445 EBITDA) 3 (-) Cash (137) (112) (
Slide 52: Steady cash generation in 2025
Steady cash generation in 2025 Cash bridge 2024 to 2025 (AEDm) 229.6 623.6 (11.7) 817.3 111.6 130.3 (1,640.0) 1 2 3 Cash & Cash Cash Flow from Proceeds from sale of Other Investing Financing Dividends Cash & Cash Equivalents Dec-2024 Operations Investment Properties Cash Flows Cash Flows Distributio
Slide 53: Financial guidance
SECTION 8 Financial guidance
Slide 54: Financial guidance
Financial guidance Revenue building blocks (AEDm) 2025A Near and medium-term financial guidance ◆ Growth determined by i) share of GLA repriced, and ii) its rental escalation ➢ About 11.5m sq.m. of GLA repriced until 2030F as presented in the ‘Growth Strategy’ section. Average rent escalation for ar
Slide 55: Financial guidance (Cont'd)
Financial guidance (Cont’d) Revenue to Gross profit bridge (AEDm) 2025A Near and medium-term financial guidance Revenue 960 Share of realized profit – Computed as 20% of realized profits1 before fair valuation gains and loss (140) ◆ to be paid to Govt. of Dubai ◆ Accrued monthly, paid in 6 installme
Slide 56: Financial guidance (Cont'd)
Financial guidance (Cont’d) Gross profit to Adjusted EBITDA Bridge (AEDm) 2025A Near and medium-term financial guidance Gross profit 684 ◆ Targeted to be around mid-single digit share of total revenue Administrative expenses (35) Net impairment losses on trade and rent receivables (16) ◆ Increase in
Slide 57: Financial guidance (Cont'd)
Financial guidance (Cont’d) Operating Profit before gains on FV and sale of 2025A investment properties to EBT (AEDm) Near and medium-term financial guidance Operating profit before 647 gains on FV and sale of investment properties ◆ Driven by the current bank borrowings, interest rates for which ra
Slide 58: Financial guidance (Cont'd)
Financial guidance (Cont’d) Capital structure ◆ The Company does not project any increase in total bank borrowings during the medium term ◆ Leverage1 targeted to decline owing to conservative and prudent approach to capital structure, coupled with growing Adj. EBITDA and rising cash balances ◆ The G
Slide 59: Closing remarks
disriga uy cpl pa I) DIPHOLDING SECTION 9 Closing remarks
Slide 60: DIP: The leading infra-like ground rent and services platform in the UAE
DIP: The leading infra-like ground rent and services platform in the UAE Business model Ecosystem Cash flows ✓ Strategic UAE location with ✓ Steady and predictable cash flows seamless connectivity across Dubai based on a highly profitable model and beyond ✓ A “city-within-a-city” ecosystem with >70%
Slide 61: Appendix
disriga uy cpl pa I) DIPHOLDING Appendix
Slide 62: Appendix: Macro and market
disriga uy cpl pa I) DIPHOLDING Appendix | Macro and market
Slide 63: Dubai is experiencing strong economic and population growth
Dubai is experiencing strong economic and population growth Supportive government strategy with world-class infrastructure makes Dubai a centre of trade flows Top 3 busiest Top 10 most 1.8% population Population more 5th safest city container port efficient public forecast growth than doubled in the
Slide 64: National strategies underpin long-term industrial and logistics land demand
National strategies underpin long-term industrial and logistics land demand UAE National Strategies Dubai Emirate-level strategies Implication for Industrial Land Demand Operation 300bn Dubai Industrial Strategy 2030 • Targets AED 300bn industrial GDP by 2031 • Builds priority manufacturing clusters
Slide 65: Dubai's integrated multimodal network underpins a unified logistics backbone
Dubai’s integrated multimodal network underpins a unified logistics backbone 13–15 m TEU handled in (GCC’s largest World’s busiest E11 container hub) international passenger hub with Green Line Red Line strong belly-cargo Jebel Ali capacity Port Dubai E311 International Dedicated cargo Airport gatew
Slide 66: The Southern Corridor is emerging as one of Dubai's growth epicentres
The Southern Corridor is emerging as one of Dubai’s growth epicentres Strategically located within this growth zone, Dubai Investments Park hosts a large, established industrial community with strong representation across logistics, manufacturing, and mixed-use activity DUBAI SOUTH CORRIDOR Only cor
Slide 67: Development is still at an early stage across the Southern Corridor
Development is still at an early stage across the Southern Corridor. DIP is the only fully established and diversified districts KEY INSIGHTS & Dubai South Corridor TAKEAWAYS E11 All land parcels in Dubai's Southern corridor are taken Jebel Ali Port North JAFZA up. A majority of new projects are res
Slide 68: Benchmarking key industrial zones across Dubai by revenue streams
Benchmarking key industrial zones across Dubai by revenue streams DIP operates a differentiated business model as a ground rent infrastructure-like service platform, and does not operate within the real estate leasing sector Key revenue streams Ground rent Built Up Rent Operational Financial Service
Slide 69: Macro and structural drivers underpin long-term industrial and logistics demand
Macro and structural drivers underpin long-term industrial and logistics demand in Dubai Economic & demographic expansion 1 Safety, security & political stability 4 Population growth and non-oil expansion are Strong rule of law and political stability support broadening demand and lifting logistics
Slide 70: Sustained population and business growth reinforce long-term demand
Dubai’s sustained population and growing businesses reinforce long-term demand in residential, commercial, and industrial sectors Projected to reach New Business Registrations in Dubai Dubai Population 5.8m by 2040 (thousands, 2021-2024) 5.8 71 67 4.25 56 0.30 3.41 Emarati 0.27 (2016-2024 CAGR 3.2%)
Slide 71: Structural growth in e-commerce and logistics underpins built-up demand
Structural growth in e-commerce and logistics underpins built- up demand UAE e-commerce Regional and cross border Dubai manufacturing & market forecast e-commerce growth logistics outlook UAE e-commerce market size MENA cross-border e-commerce flows Dubai manufacturing & logistics output (2024–2029E
Slide 72: Strengthening trade flows and accelerating cargo volumes
Strengthening trade flows and accelerating cargo volumes underpin long- term demand for industrial and logistics assets Dubai Container Port Throughput Dubai Air-Cargo Volumes (m TEU, 2020-2024) (m Tonnes, 2020-2024) DXB1 DWC2 2.8 15.6 14.5 13.7 14.0 2.3 2.4 2.4 13.5 1.9 Expanding port and 2.2 air-c
Slide 73: Trade flows support a mature, multi-hub industrial ecosystem
Strengthening trade flows support a mature, multi-hub industrial ecosystem Region’s largest trade and Core industrial corridor logistics gateway linking global supporting manufacturing, shipping and re-export flows assembly, and UAE-wide distribution Jebel Ali Port Al Quoz Industrial Area Jebel Ali
Slide 74: A stable, high-connectivity environment underpins industrial and logistics expansion
A stable, high-connectivity environment underpins long-term industrial and logistics expansion Safety, Security, and Stability Strategic Location & Logistics Ease 5th Safest City Globally 240+ Direct International Destinations Numbeo 2024 Safety Index DXB and DWC Network, 2024 One of the world’s hig
Slide 75: Dubai's 2040 plan places Dubai South as the engine for growth
Dubai’s 4 plan places Dubai South as the engine for economic growth 2040 Plan growth in 5 polycentric hubs to balance density, diversify Dubai’s Southern Corridor especially expected to benefit from new activity, and strengthen liveability developments and investments Dubai South Connectivity Prime
Slide 76: Combined network of free-zone and onshore hubs in the corridor
Within this corridor, a combined network of free-zone and onshore hubs is creating one of Dubai’s deepest and most scalable industrial ecosystems ONSHORE HUBS FREE-ZONE (Domestic-Facing Production Hubs) (Global-Facing Industrial Hubs) UNIFIED CORRIDOR Jebel Ali EFFECT Industrial Area The integration
Slide 77: Stronger trade flows and multi-modal throughput lifting industrial demand
Stronger trade flows and multi-modal throughput are lifting industrial demand in Dubai Trade platform strength indicators Non-oil trade activity Jebel Ali remains the region’s largest continues to scale container hub UAE’s non-oil exports grew at a 15.6m TEUs handled in 2024 17.0% CAGR (+7% vs. 2023
Slide 78: Macro growth, infrastructure investment and trade flows reinforce demand
Macro growth, infrastructure investment, and rising trade flows reinforce long-term demand in Dubai Port, airport, and rail Rising throughput and ic s ist Ri investments are driving operating density are g o nd an s 3 la 1 higher freight volumes and in thro tri r l translating into greater Together,
Slide 79: Appendix II: Business model
disriga uy cpl pa I) DIPHOLDING Appendix II Business model
Slide 80: Long-term head lease with the Government of Dubai
A Long-term head lease with the Government of Dubai with c.73 years remaining Head lease Lease agreement Tenant Contractual term Details Benefit to DIP Signed with the government of Head lease ◆ Gives DIP the right to plan, develop, and sub-lease parcels to long-term tenants Dubai 99 year head lease
Slide 81: Long term ground lease contracts with tenants
B Long term ground lease contracts with tenants Head lease Lease agreement Tenant Contractual term Details Benefit to DIP c.30 years, renewable, offering Long-term ◆ Provides a predictable, long-term infrastructure-like revenue stream predictable, recurring revenue ◆ Tenants build their own superstr
Slide 82: Infrastructure-like model driven by sticky and predictable revenue streams
C Infrastructure-like model driven by sticky and predictable revenue streams Ground rental Sub-leasing 1 2 income 3 Ancillary income income FY25 62% 16% 22% revenue ◆ Includes the below components: Description ◆ The provision and renewal of leases on land ◆ Sub-leasing income arises when a lessee pl
Slide 83: Lean and efficient team driving cost control and strong cash generation
Lean and efficient team driving cost control and strong cash generation Staff costs Lean and agile workforce: 800.00 61 64 61 Streamlined organisational structure keeps overheads low and 700.00 • 600.00 supports fast decision-making 500.00 (in AEDm) (in AED k) 400.00 20 24 22 Focused, high-productiv
Slide 84: Initial capital deployment to establish the park's ecosystem
Initial capital deployment to establish the park’s differentiated ecosystem Capital deployment over the years (in AEDm) AED 1,042m Capital outlay focused on infrastructure works, substantially Ongoing capex requirements are limited with an completed by 2014 average (2015-25) of AED 15m2 per year spe
Slide 85: Appendix III: Ecosystem
disriga uy cpl pa I) DIPHOLDING Appendix Ill Ecosystem
Slide 86: A city-within-a-city, servicing diverse end users across sectors
A city-within-a-city, servicing a diverse range of end users across sectors East A West 1 2 Industrial & Logistics 3 Residential D B 4 Commercial: F Retail G Mixed use C Hotels & hotel apartments Parking E Public facilities: H o Parks Utilities Open space o A NMC Royal Hospital E Greenfield Internat
Slide 87: Appendix IV: Operations
disriga uy cpl pa I) DIPHOLDING Appendix IV Operations
Slide 88: Disciplined leasing process designed for a seamless tenant experience
Disciplined leasing process with defined controls designed for a seamless tenant experience Customer leasing journey Prospect Enquiry Lead registration Needs assessment Process guidance Site visit & Offer issuance Lease execution internal review Enquiry logged in PMS1 Meetings held to Leasing proces
Slide 89: Comprehensive e-services platform
Comprehensive e-services platform enabling online lease applications, payments and approvals E-forms are utilised for sub-leasing activities, encompassing applications for sub- leasing NOCs, lease related requirements (including amendments) and the provision of other DIP services, including the issu
Slide 90: Appendix V: Growth
disriga uy cpl pa I) DIPHOLDING Appendix V Growth
Slide 91: Overview of growth initiatives
Overview of growth initiatives Creating and sustaining a city-within-a-city for our diverse customers A Organic growth - Active asset management 1 Ground rental income 2 Sub-leasing 3 Tenant repositioning recalibration growth initiatives ◆ Contracted rent escalations ◆ Rising market rental levels, ◆
Slide 92: DIP's ground rent levels remain well below market levels
DIP's ground rent levels remain well below market levels, creating a clear repricing upside Steadily increasing demand for the industrial & logistics sector… …translating into steadily increasing rental rates Sector growth fuelled by ambitious national strategies Dubai industrial and logistics groun
Slide 93: Change in overall park profile as key tenants expand or upgrade
Change in overall park profile as key tenants expand or upgrade their plots within the park Emirates Airlines case study Al-Futtaim group case study Expansion Expansion Premium sales Industrial site Industrial site Premium accommodation Automobile showroom Automobile showroom & service outlet Financ
Slide 94: Appendix VI: Governance
disriga uy cpl pa I) DIPHOLDING Appendix VI Governance
Slide 95: Experienced Board with a proven track record
Experienced Board, with a proven track record in providing strategic oversight and driving long-term value creation Board of Directors Non – Executive Directors Independent Non – Executive Directors 40+ 40+ 35+ 30+ 15+ 20+ Khalid Jassim Abdulaziz Bin Obaid Mohammed Dr. Rashid Ahmad Humaid Tariq Shei
Slide 96: Robust environmental management and health and safety management
Robust Environmental management supported by effective health and safety management Environmental management Health and safety management Clean energy initiatives Strong health and safety management practices 100% of cooling provided by Emicool district cooling 700 MWh saved by replacing 1,355 Sodiu
Slide 97: Effective employee talent development underpinned by wellbeing programs
Effective employee talent development underpinned by wellbeing programs Employee split by department Employees count Employee well being initiatives 6 2 3 64 14 61 61 61 employees 20 Healthy Meal Preparation Financial wellness Onsite basic health check- up 16 Management Commercial Finance Operation
Slide 98: Fully enabled platform supported by the Dubai Investments ecosystem
Fully enabled platform supported by the Dubai Investments ecosystem Dubai Investments as a platform for incubating regional champions with 35+ portfolio companies and AED 23.6bn1 total assets Property and Infrastructure Manufacturing, Contracting & Services Investments Core-pillar of DI’s investment
Slide 99: Appendix VII: Historical financial performance
Appendix VII Historical financial performance
Slide 100: Basis of preparation
Basis of preparation These financial statements have been prepared in accordance with the IFRS Accounting Standards (“IFRSs”) issued by the International Accounting Standards Board and interpretations issued by the IFRS Interpretations Committee (“IFRS IC”) and the applicable requirements of the U
Slide 101: Rental income key operational metrics by asset class
Rental income key operational metrics by asset class Operational KPIs from rental income by segment (2025A) 1.7 0.9 12.5 3.8 Operating area 6.0 (m sqm) Logistics Industrial Residential Commercial Total Like for like area and rental rates Excluding area sold through exclude area sold through finance
Slide 102: Historical balance sheet
Historical balance sheet Balance Sheet (AEDm) 2023A 2024A 2025A Non-current Assets Plant, Property and Equipment 240 213 214 Investment Properties 6,745 7,347 6,581 Financial Assets at fair value through profit or loss 39 18 17 Long Term Rent Receivable 47 55 27 Trade and Other Receivables 9 8 358 D
Slide 103: Historical income statement
Historical income statement Income Statement (AEDm) 2023A 2024A 2025A Revenue 838 892 960 Cost of Providing Services (186) (259) (276) Gross Profit 652 633 684 Administrative Expenses (38) (39) (35) Net Impairment Losses on Trade & Rent Receivables (47) (3) (16) Gain on Fair Valuation of Investment
Slide 104: Historical statement of cash flows
Historical statement of cash flows Statement of Cash Flows (AEDm) 2023A 2024A 2025A Profit before Tax 664 1,050 1,199 Adjustments for: Depreciation Expense 27 27 31 Finance Costs 152 153 142 Finance Income (0) (6) (17) Net Impairment Losses on Trade Receivables 47 2 16 Gain on Sale of Investment Pro
Slide 105: Appendix VIII: Financial guidance
Appendix VIII Financial guidance
Slide 106: Financial guidance
Financial guidance Net working capital ◆ Trade and other receivables include i) gross trade receivables, ii) related provisions, and iii) gross receivables related to settlements from prior tenants ◆ DSO1, associated with gross trade receivables, projected to be at ~115 days1 in the near term and ex