A huge new industrial zone in Abu Dhabi is touting for multinational tenants, in the latest of a wave of similar projects launched by Gulf governments as the competition to lure foreign companies grows stiffer.
While the western financial crisis is causing some US and European businesses to trim their overseas operations, the Abu Dhabi development is one of about 85 so-called cluster projects battling across the Gulf to attract companies from sectors such as the media, technology and finance.
Analysts says ventures such as the Abu Dhabi project, which is intended eventually to be two-thirds the size of Singapore, face a big test over the next few years of whether they can generate the corporate interest to match their ambitions.
Abu Dhabi seeks cluster zone port tenants - FT.com
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