DUBAI — September 29, 2026: Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as Ruler of Dubai, has issued Decree No. (23) of 2026 forming a new Board of Directors for the Investment Corporation of Dubai (ICD), placing Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum at its helm, the Dubai Media Office announced on Tuesday.
The decree, which takes effect from its date of issuance and will be published in the Official Gazette, names Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, as vice chairman of the board, state media reported.
New leadership at the helm
Sheikh Hamdan, the Crown Prince of Dubai who also serves as the UAE’s Deputy Prime Minister and Minister of Defence, will chair the board of the government’s principal investment arm, according to the decree announced on Tuesday afternoon.
Sheikh Maktoum, who serves as Deputy Prime Minister and Minister of Finance at the federal level in addition to his role as First Deputy Ruler of Dubai, will support the Crown Prince as vice chairman, the announcement said.
Board lineup announced
The newly formed board includes Sheikh Ahmed bin Saeed Al Maktoum; Mohamed bin Hadi Al Hussaini; Reem bint Ebrahim Al Hashimy; Sultan bin Saeed Al Mansoori; Abdulrahman Saleh Al Saleh; and Helal Saeed Almarri, the Dubai Media Office said.
Observers noted the board blends senior members of the ruling family with top economic and government officials, underscoring the corporation’s central role in managing Dubai’s sovereign investments.
Dubai’s main investment arm
Established in 2006, the Investment Corporation of Dubai manages the government’s portfolio of commercial companies and investments, providing strategic and financial oversight of its assets locally and internationally, according to its mandate.
ICD’s portfolio spans a broad range of sectors that underpin Dubai’s economy, including banking, aviation, hospitality, real estate, transport, utilities and financial services. Its holdings include some of the emirate’s best-known companies and strategic assets, among them the Emirates Group, Emirates NBD and Enoc, trade sources said.
The corporation is tasked with consolidating the Government of Dubai’s investment portfolio and increasing its long-term value, a mandate that has placed it at the center of the emirate’s economic planning under the Dubai Economic Agenda, D33.
A signal of continuity
The restructuring of ICD’s board comes as Dubai continues to push ahead with its D33 economic agenda, which aims to double the size of the emirate’s economy over the next decade and rank it among the world’s top three urban economies.
Analysts said the appointment of the Crown Prince as chairman signals the continued centrality of the investment arm in steering Dubai’s sovereign assets through a period of ambitious economic expansion across the Gulf.
