New Delhi, Oct. 19 -- Dubai Investments' subsidiary DIP Holding PLC is seeking to attract investors to the United Arab Emirates' first initial public offering (IPO) this year by offering $592 million in dividend payouts over the next three years. The promise of massive dividends comes after US-Israeli strikes on Iran in February triggered a war that has rattled neighbouring countries and fuelled uncertainty across the Middle East.

Citing the deal, Bloomberg reported the development on Monday, adding that Dubai Investments, the company's sole owner, plans to sell a 20% stake. DIP Holding owns Dubai Investments Park, one of the country's largest mixed-use developments.

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Investors can subscribe to the IPO from 27 October to 3 November, w...