DIPDCDubai Investments Park Development Company (also seen as DIP; Dubai, United Arab Emirates)
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Dubai Investments Park is a unique, self-contained mixed-use industrial, commercial and residential complex operated by DIPDC.
Khalid Kalban, chairman of DIPDC and managing director and chief executive officer of Dubai Investments, said: "The upgrade in the ratings by Standard & Poor's is a major endorsement for DIPDC and reflects the improved liquidity within the DI group, following the successful Sukuk issue earlier this year and our strong growth potential.
The heavy over subscription of the DIPDC Sukuk was on account of a combination of factors.
We value our relationship with DIPDC and the overall DI Group and are privileged to have assisted them in relation to their landmark debut Sukuk offering," said Sanjay Vig, Managing Director, Alpen Capital
Bin Kalban, Chairman and Managing Director of DIPDC, said, "We set out on this exercise with dual objectives of creating awareness about Dubai Investments Park and building a relationship with the international fixed income community.
Khalid Kalban, Chairman of DIPDC and MD & CEO of Dubai Investments PJSC, said: 'We are pleased with the outcome and appreciate the diligence and hard work put in by S&P in the rating process with DIPDC.