Abu Dhabi’s Mubadala in property venture

Mubadala, one of Abu Dhabi’s most prominent state investment vehicles, is launching a joint venture with Pramerica Real Estate Investors to raise capital for property projects in the emirate and set up funds to invest in global markets.

The company, Mubadala Pramerica Real Estate Investors, will be headquartered in Abu Dhabi and initially focus on raising funds to invest in middle-income housing in the emirate.

But it also plans to launch funds that will provide international investors access to the broader Middle East property market, as well as vehicles to invest in overseas real estate.