International Holding Company, the UAE's most valuable listed company, posted Dh54.7 billion ($14.89 billion) worth of revenue and Dh10.8 billion in group net profit in the first half of 2025, driven by the "disciplined execution of strategic investments and a high performing second quarter".
This marks a 31.1 per cent rise in revenue from Dh41.7 billion in the corresponding period of 2024, the company said in a filing to the Abu Dhabi Securities Exchange, where its shares are traded.
The global investment company also posted a 55.3 per cent per cent jump in second-quarter net profit to Dh6.7 billion.
Key contributors to this term's top-line growth and margin expansion included real estate, marine and dredging, hospitality and leisure, along with financial services, the company said.
“Our first half results reflect the continued strength of IHC’s diversified model and the disciplined execution of our strategic investment agenda,” Syed Shueb, chief executive of IHC, said.
“By delivering outstanding portfolio performance and enhancing operating leverage, we are unlocking value across sectors while deepening our impact across regional and international markets.”
The Abu Dhabi-headquartered conglomerate is a frontline company in the emirate's push to diversify its non-oil business sectors and has grown rapidly to become one of the most valuable listed holding companies in the broader Middle East and North Africa region.
IHC has been on an investment spree, buying businesses as well as acquiring fast-growing companies over the past few years in the UAE as well as in markets across continents.
IHC delivered multiple strategic initiatives across key sectors, including the launch of Gridora, a national infrastructure platform in partnership with Abu Dhabi’s state holding company ADQ and Modon for the development of new infrastructure projects in the UAE and markets around the globe.
Our first half results reflect the continued strength of IHC’s diversified model and the disciplined execution of our strategic investment agenda
Syed Shueb,
chief executive, IHC
It also unveiled RIQ, a $1 billion global reinsurance platform, developed in partnership with the world's biggest asset manager BlackRock and Lunate.
The company also established a new holding company 2PointZero with more than $27 billion in assets in January 2024. It also pioneered a UAE dirham-backed stablecoin in collaboration with ADQ and First Abu Dhabi Bank.
Real estate and construction contributed significantly to IHC's revenue, delivering Dh22.6 billion, up 47.8 per cent year on year. This was driven by the ongoing demand for inventory and the launch of new development projects, which contributed 41.4 per cent of total revenue, the company said.
Marine and dredging posted Dh14.1 billion in revenue, a 10.1 per cent annual increase, indicating greater project activity and international expansion, IHC said. Hospitality and leisure achieved a 72 per cent increase at Dh4.9 billion.
In May, IHC said that it aims to double its asset base to Dh800 billion and hit the Dh200 billion annual revenue mark by the end of the decade, driven by its acquisition spree, according to Mr Shueb.
The company, whose board is chaired by Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and National Security Adviser, is keen to expand its portfolio of assets in the US, India and fast-growing economies in the Central Asian region.
It also unveiled a homegrown online market place for artificial intelligence that provides access to key AI hardware and software. The Saif platform – introduced at the Make it in the Emirates summit in Abu Dhabi – is being billed as the “first-ever Emirati AI marketplace agent” and allows local and overseas developers to directly buy graphics processing units, AI modules and AI stack designs to create large language models, IHC said.
Founded in 1999, IHC operates through more than 1,300 subsidiaries and aims to expand and diversify its holdings in sectors including asset management, health care, property and construction, marine and dredging, IT and communications, financial services, food production, utilities and services.
Some of the companies under its umbrella include Abu Dhabi's biggest listed developer Aldar Properties, Modon Properties, Adnec Group, Presight, Al Seer Marine and NMDC Group.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Shipping%20and%20banking%20
%3Cp%3EThe%20sixth%20sanctions%20package%20will%20also%20see%20European%20insurers%20banned%20from%20covering%20Russian%20shipping%2C%20more%20individuals%20added%20to%20the%20EU's%20sanctions%20list%20and%20Russia's%20Sberbank%20cut%20off%20from%20international%20payments%20system%20Swift.%3C%2Fp%3E%0A
Results
5.30pm: Maiden (TB) Dh82,500 (Turf) 1,400m; Winner: Mcmanaman, Sam Hitchcock (jockey), Doug Watson (trainer)
6.05pm: Handicap (TB) Dh87,500 (T) 1,400m; Winner: Bawaasil, Sam Hitchcott, Doug Watson
6.40pm: Handicap (TB) Dh105,000 (Dirt) 1,400m; Winner: Bochart, Fabrice Veron, Satish Seemar
7.15pm: Handicap (TB) Dh105,000 (T) 1,200m; Winner: Mutaraffa, Antonio Fresu, Musabah Al Muhairi
7.50pm: Longines Stakes – Conditions (TB) Dh120,00 (D) 1,900m; Winner: Rare Ninja, Royston Ffrench, Salem bin Ghadayer
8.25pm: Zabeel Trophy – Rated Conditions (TB) Dh120,000 (T) 1,600m; Winner: Alfareeq, Antonio Fresu, Musabah Al Muhairi
9pm: Handicap (TB) Dh105,000 (T) 2,410m; Winner: Good Tidings, Antonio Fresu, Musabah Al Muhairi
9.35pm: Handicap (TB) Dh92,500 (T) 2,000m; Winner: Zorion, Abdul Aziz Al Balushi, Helal Al Alawi
WHAT%20MACRO%20FACTORS%20ARE%20IMPACTING%20META%20TECH%20MARKETS%3F
%3Cp%3E%E2%80%A2%20Looming%20global%20slowdown%20and%20recession%20in%20key%20economies%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Russia-Ukraine%20war%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Interest%20rate%20hikes%20and%20the%20rising%20cost%20of%20debt%20servicing%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Oil%20price%20volatility%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Persisting%20inflationary%20pressures%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Exchange%20rate%20fluctuations%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Shortage%20of%20labour%2Fskills%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20A%20resurgence%20of%20Covid%3F%3C%2Fp%3E%0A
INVESTMENT PLEDGES
Cartlow: $13.4m
Rabbitmart: $14m
Smileneo: $5.8m
Soum: $4m
imVentures: $100m
Plug and Play: $25m
