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Established in 2006, the Investment Corporation of Dubai (ICD) serves as the principal investment arm of the Government of Dubai. Its primary mandate is to consolidate and manage the government's portfolio of commercial companies and investments, providing strategic oversight to maximize long-term value for the Emirate of Dubai. ICD's diverse portfolio spans various sectors, including transportation, banking and financial services, real estate, energy, retail, and hospitality, both locally and internationally. ICD's investment strategy focuses on creating long-term value and stability by adhering to strict corporate governance principles and implementing a global investment approach. The corporation actively seeks opportunities for growth, diversification, and expansion across emerging sectors, reinforcing its contribution to Dubai's future economic strength. By aligning Dubai's needs with the shifting global landscape, ICD aims to secure the emirate's wealth for the benefit of future generations. In 2023, ICD reported a 68% increase in net profit, reaching a record 60.8 billion dirhams ($16.56 billion). This strong performance was driven by robust results in transportation, banking, and financial services, supported by regional economic momentum and improved competitiveness of ICD's portfolio companies. Major holdings include Emirates airline, Emirates NBD, Emaar Properties, and Emirates National Oil Company. The corporation's commitment to sustainable growth and diligent planning underscores its role as a key driver of Dubai's economic development.