Investment Corporation of Dubai

Investment Corporation of Dubai
Native name
مؤسسة دبي للاستثمارات الحكومية
Company typeSovereign wealth fund
Founded3 May 2006; 18 years ago (2006-05-03)
Headquarters
Dubai
,
United Arab Emirates
Key people
Hamdan bin Mohammed Al Maktoum, Chairman
Mohammed Ibrahim Al Shaibani, Managing Director
RevenueUS$73 billion (2022)[1]
AUMUS$320 billion (2022)[1]
OwnerGovernment of Dubai
Websiteicd.gov.ae

Investment Corporation of Dubai (Arabic: مؤسسة دبي للاستثمارات الحكومية, ICD) is the principal investment arm of the Government of Dubai[2] focused on strengthening Dubai’s economy through long-term value and wealth creation and investing in global opportunities.[3] Established in 2006, ICD manages the Government of Dubai Portfolio of commercial companies and investments.[4] In 2022, ICD reported assets worth $320 billion and revenue of $73 billion.[5] The Dubai-based corporation provides strategic oversight, develops and implements investment strategies and corporate governance policies, and operates in multiple sectors, including oil and gas, transportation, banking, and financial services.[6]

  1. ^ a b "Investment Corp of Dubai posts record revenue and record net profit for 2022". Arabian Business. 1 June 2023.
  2. ^ "Top 10 biggest sovereign wealth funds in GCC". Arabian Business.
  3. ^ "ICD arm paid $2.2bln for AWAS leasing business, accounts show". www.zawya.com. Retrieved 2021-03-16.
  4. ^ "Investment Corporation of Dubai reports Dh25 billion net profit, up 16.9% year on year in 2019". gulfnews.com. 20 May 2020. Retrieved 2021-03-16.
  5. ^ "Investment Corp of Dubai posts record revenue and record net profit for 2022". Arabian Business.
  6. ^ Dudley, Dominic. "The Middle East's 10 Biggest Sovereign Wealth Funds (For Now)". Forbes. Retrieved 2021-03-16.