Dubai-based Amara eyes China agriculture, utilities

Dubai-based Amara Holdings is eyeing investments in China each worth up to $200 million over the next 12 months, the latest Gulf Arab investor looking to tap opportunities in the world's most populous nation.

Amara, a sharia-compliant investment firm, said late on Wednesday it had teamed up with Ding Hai Investment Management Co, a subsidiary of New China Trust, to identify investments in China.

"The current market environment presents us with unprecedented opportunities to invest in China at very attractive valuations," Musab Jassim, executive chairman, Amara Holdings said in a statement.