Abu Dhabi's review of state-linked firms, which has involved the government tightening its purse strings and holding off key projects, is leaving investors and stakeholders guessing on how future business deals will unfold
in the wealthy emirate.
The emirate, home to 95 percent of the United Arab Emirates' (UAE) oil reserves, had embarked on building trophy buildings and mega infrastructure projects, mirroring its flashy neighbour Dubai albeit at a steadier pace.
However, the capital city has had to retrench amid a property slowdown. And the review of nearly 40
government-related entities (GREs) and departments, by Sheikh Hazza bin Zayed al-Nahayan, brother of the Abu Dhabi ruler and UAE president, has led to a red pen being taken to major projects, funds frozen and several top-level management shake-ups.
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