NIC plans to expand operations
Opens in DIFC after approval
$20m profits in first quarter
A major Kuwaiti investment company has launched its first regional office in Dubai as part of plans to expand operations in the Gulf.
The bourse-listed National Investment Company said it has opened an office at the Dubai International Financial Centre after securing approval from the emirate’s Financial Services Authority.
NIC, one of Kuwait’s largest investment entities, said on its website and in a bourse disclosure on Tuesday that the move supports its vision to cement its position as a leading provider of integrated investment services across the six-nation Gulf Cooperation Council.
Financial reports published on the bourse show NIC recorded net profits of about KD6 million ($20 million) in the first quarter of 2025 and its assets under management stood at around KD1.13 billion.
The company, which has investments in several countries, reported that its market capitalisation was about KD14.8 billion at the end of 2024, an increase of nearly 42 percent year on year.
Several foreign firms have established presence in Dubai to target business opportunities in the Gulf oil producing countries, mainly the UAE and Saudi Arabia, the largest economies in the region.
