Dubai’s troubles get all the attention, but Abu Dhabi and Qatar investment funds are still making headlines these days.
On Monday, Abu Dhabi invested $10 billion to help save Nakheel, Dubai’s troubled developer. But that’s only the latest in a long line of deals for Dubai’s less-flashy sister Emirates, which has continued to fund projects through the downturn, even when Dubai shut down its money spigot.
For example, last month an Abu Dhabi-controlled company invested $134 million in a 72-story tower project in New York City. The project, designed by Christian de Portzamparc, is a block from Central Park and neighbors the Essex House, the hotel now owned by troubled Jumeirah Group of Dubai.
No comments:
Post a Comment