Dubai Investments : التقرير المتكامل لسنة 2021

Integrated Report2021

Directors' report Independent auditor's report Consolidated statement of profit or loss Consolidated statement of comprehensive income Consolidated statement of financial position Consolidated statement of changes in equity Consolidated statement of cash flows

Notes to the consolidated financial statements

Annual Corporate Governance Report 2021

Sustainability Report 2021

Pages

1-2

3-8

9

10

11-12

13-14

15-16

17-71

72-89

90-118

Overview

Key Audit Matters

information.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the consolidated financial statements section of our report.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Independence

We are independent of the Group in accordance with the International Code of Ethics for Professional Accountants (including International Independence Standards) issued by the International Ethics Standards Board for Accountants (IESBA Code) and the ethical requirements that are relevant to our audit of the consolidated financial statements in the United Arab Emirates. We have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code.

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Our audit approach

the notes to the consolidated financial statements, which include significant accounting policies and other explanatory

the consolidated statement of cash flows for the year then ended; and

the consolidated statement of changes in equity for the year ended 31 December 2021;

the consolidated statement of financial position as at 31 December 2021;

the consolidated statement of comprehensive income for the year then ended;

the consolidated statement of profit or loss for the year ended 31 December 2021;

The Group's consolidated financial statements comprise:

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Independent auditor's report to the shareholders of Dubai Investments

PJSC

Report on the audit of the consolidated financial statements

Our opinion

In our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated financial position of Dubai Investments PJSC (the "Company") and its subsidiaries (together, the "Group") as at 31 December 2021, and its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with International Financial Reporting Standards.

What we have audited

● Valuation of investment properties

• Valuation of properties held for development and sale within inventories

As part of designing our audit, we determined materiality and assessed the risks of material misstatement in the consolidated financial statements. In particular, we considered where management made subjective judgements; for example, in respect of significant accounting estimates that involved making assumptions and considering future events that are inherently uncertain. As in all of our audits, we also addressed the risk of management override of internal controls, including among other matters consideration of whether there was evidence of bias that represented a risk of material misstatement due to fraud.

We tailored the scope of our audit in order to perform sufficient work to enable us to provide an opinion on the consolidated financial statements as a whole, taking into account the structure of the Group, the accounting processes and controls, and the industry in which the Group operates.

PricewaterhouseCoopers (Dubai Branch), License no. 102451

Emaar Square, Building 5, P O Box 11987, Dubai - United Arab Emirates

T: [phone], F: [phone], www.pwc.com/me

Jacques Fakhoury, Douglas O'Mahony and Rami Sarhan are registered as practising auditors with the UAE Ministry of Economy

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