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International Holding Co. plans to invest billions of dollars in markets including Indonesia, Colombia, Turkey and India as the United Arab Emirates firm controlled by the country’s national security adviser steps up its breakneck expansion.
IHC, the UAE’s most valuable listed firm, will target sectors such as food, infrastructure and health care across these countries and investments will range from $1 billion to $5 billion depending on the country and opportunity, Chief Executive Officer Syed Basar Shueb said in an interview.
“These new markets are more lucrative for us because they give decent returns and it gives us exposure to that country,” Shueb said. “Double-digit growth is the minimum of what we’re looking for.”
With investments ranging from Elon Musk’s SpaceX, to a local fishery and Abu Dhabi’s largest property developer, IHC is at the forefront of a drive to diversify the UAE economy and deploy its oil windfall overseas.
The company, whose market capitalization has rocketed to $170 billion within a matter of months, is controlled by the Royal Group, a conglomerate that lists Sheikh Tahnoon bin Zayed al Nahyan -- the UAE’s national security adviser and brother to the president -- as chairman.
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