Tuesday, 15 December 2009

Money Still Flowing from Abu Dhabi and Qatar

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