UAE Investments Worldwide

[dubaiflo]

lol never seen that

[smussuw]

DP World to develop and operate new container terminal in Turkey
DP World, one of the world's leading port operators, is delighted to announce the acquisition of a green field coastal site at Yarimca, Turkey, which the company will develop into a new container terminal facility.



The completed 48 hectare site, on the Sea of Marmara, will enable DP World to build and operate a 1 million plus TEU terminal with a planned quay length in excess of 1200m.

DP World has agreed to acquire the existing site from Turkish steel producer Erdemir for a net cash consideration of US$105 million, and with it the rights to develop a new container terminal. Subject to all necessary final approvals, DP World expects to start work on the development of the site in 2006 and the terminal is expect to commence operations in early 2008. The terminal will be the first in Turkey to be wholly owned by an international operator.

The move into Turkey is in line with DP World's strategy of investing in growth markets such as Eastern Europe and China. The new terminal at Yarimca will facilitate the growing local industrial activity which is currently under served by container terminal capacity.

Turkey is a country of considerable economic growth and its infrastructure such as ports will play a crucial part in sustaining its development. Foreign trade with Turkey is growing at an annual rate of 30% with average annual GDP growth of 7.1% since 1999. In recent years, Turkey has undergone significant reforms of its tax and investment laws making the country more attractive for foreign investment including reduction in corporate tax, stabilistation of the currency and legal framework in line with EU standards.

Mohammad Sharaf, CEO, DP World, said:


"This is our first investment in Turkey and I am delighted to announce the acquisition. The new terminal at Yarimca will give us an important platform to expand our operations in Eastern Europe. The development is a strong fit with our strategy of investing in developing markets in Europe and Asia. We already have a successful operation at Constanta, on the Black Sea and we will continue to identify opportunities in the region that will enable us to grow our network profitably and serve the needs of our customers. DP World is committed to long term investment in the local communities and countries in which we operate and this project will be no exception. We plan to invest over $US 170 million in the infrastructure at the terminal and we fully expect the operation to be a commercial success."

[Krazy]

Istithmar buys New York landmark

New York : Istithmar, the UAE investment holding company, has acquired one of New York's most famous landmark buildings in a $705 million deal.

The company announced on Thursday that it had bought 230 Park Avenue in Manhattan, also known as the Helmsley Building, a 34-storey gold-domed office block which sits at the top of Park Avenue.

Sultan Ahmad Bin Sulayem, Istithmar's chairman, who was in Manhattan to announce the acquisition, said the deal underscored Istithmar's strategy of investing in highly attractive real estate.

"New York is a major financial centre with a strong real estate market and we believe this acquisition represents a first rate opportunity to acquire a major landmark that will continue to hold and increase its value."

"This was the only property we looked at in New York, it has a high occupancy rate with major corporate tenants and it will provide us with an opportunity to upgrade both the property and its associated rental rates," he added.

The move follows the company's purchase of a high profile property in London last month. Istithmar paid $273 million for One Trafalgar Square, a prestigious office block in the heart of the UK capital.

Bin Sulayem played down suggestions the company was on a speculative global shopping spree. "We believe the property was significantly under-priced for a major landmark in Manhattan, and our involvement will not be a short term affair," he said.

David Jackson, Istithmar's executive vice president, said financing for the Park Avenue property would be managed by Credit Suisse First Boston.

"The acquisition will be leveraged at around 80 per cent of the value of the deal, with the rest in cash, and the arranging will be provided by CSFB.

"As far as upgrading the property goes, we estimate we will need to spend around $10 million upgrading the entire electrical and communications infrastructure to bring it up to modern standards," he added.

Istithmar has so far invested around $1.2 billion of its $2 billion store of equity capital, across four main industry sectors consumer, financial services, industrial and real estate.

Jackson said the value of the companies it has invested in to date is around $6 billion.

Bin Sulayem would not comment on where the company would be making its next investment, however, he said that it was looking at a number of options in the UK and China.

"London is a very important market. It has a strong real estate market with an excellent location," he said. "China is also good and there is a lot happening there, but there is high demand and some areas are very saturated."

acquisition
UAE's second investment in the city

230 Park Avenue is not the first investment made by a UAE group in New York. In September Dubai Investment Group had "closed in on" Essex House according to the New York Times, for $440 million.

Essex house is home to the celebrated New York restaurant Alain Ducasse. The two properties combined add up to an investment of $1.1 billion in the city by the emirate.

Essex house was last sold for $250 million in 1999, while 230 Park Avenue sold for $225 million a year before that, the Times said.

[Dubai-Lover]

question
will they buy all buildings in manhattan?

[dubaiflo]

uhuuuh the americans won't like this..

i am just waiting for the point where they will buy towers in the top100 and all those americans oohhh what an amazing tower and we can say, hey it is owned by dubai

[Krazy]

Hearts and minds plan builds Dubai brand

Dubai : What do P&O, DaimlerChrysler, Refco, 230 Park Avenue, The London Eye and One Trafalgar Square all have in common? They have all been acquired, or been a target of acquisition by Dubai-based companies or financial institutions.

A steady oil price hovering around the $60 a barrel mark, and increasing confidence that higher oil prices are here to stay, is prompting a sea change in investment activity in the GCC, spearheaded by Dubai.

Increased funds in the region led initially to domestic investment in large scale infrastructure projects.

Infrastructure investments then crossed borders and became regional. They remain so. Gulf Businessmen are expected to spend more than $140 billion on regional projects in 2005 and 2006, according to the Institute of International Finance (IIF). That figure is four times the amount invested in the region between 2002-2003.

Now there are signs that international investment opportunities are being embraced with considerably greater enthusiasm. Figures from financial data provider Dealogic shows $25.5 billion of Gulf money went into acquisitions outside the region in the year to November 4, eight times the 2004 figure and substantially more than the $11.1 billion for the previous five years put together.

Economists around the world praised the initial strategy of investing in infrastructure, viewing it as Middle East countries making a concerted effort to improve infrastructure, and diversify economies. The approach marked a significant shift from the other oil boom of the 1970s where petrodollars were parked in Swiss banks and US Treasury bonds.

In the past, rising oil prices led to short term improvements in the economy, but a weaker long term view. High oil prices meant essential structural improvements could be put on hold. This has not happened this time around.

Desire for accession to the World Trade Organisation has triggered continued economic restructuring. In fact Dubai's move towards international mergers and acquisitions activity is not a sign of the international approach of the 1970s. Instead it appears to be a highly focused strategy enforcing sector diversification by branding Dubai by association.

Acquisitions are being made to reflect Dubai's ambitions, to enforce and raise perceptions globally as well as to bring skills and expertise to the emirate. They are not being made solely to ensure a long-term revenue stream, but to provide firmer foundations for Dubai as a tourism, and financial services hub for the region.

"Dubai seems to be pursuing a strategy of brand development. It is different from other Gulf countries," Ali Shihabi, CEO of Dubai's Rasmala Investments, The obvious examples are the entertainment and theme parks. Dubai is building a Disney-style entertainment park - Dubai Land.

The acquisition of the Tussaud's helped Dubai gain exposure and expertise. Its latest acquisition, the London Eye, should pull off the same trick.

[Dubai-Lover]

as you can see it's one of the famous buildings and there is more to come from istithmar!!!


Istithmar buys landmark Manhattan property

Istithmar PJSC, a leading investment house based in the UAE, focusing on private equity, real estate and alternative investments, has announced that it has closed on the acquisition of another internationally recognized landmark property, 230 Park Avenue in Manhattan.


230 Park Avenue in Manhattan

The purchase of the New York City trophy property for US$705 million follows on the heels of Istithmar's acquisition of London's One Trafalgar Square last month. The property was purchased from 230 Park Avenue Investors, LLC, of which Robert M. Bass of Fort Worth, Texas is a lead investor.

230 Park Avenue is a 34-story gold-domed office tower, in excess of 1.2 million square feet straddling Park Avenue at 45th Street. Built in 1929, 230 Park Avenue is one of two buildings that combine a direct connection to Grand Central Terminal with the prestige of a Park Avenue address.

Istithmar's Executive Chairman Sultan Ahmed Bin Sulayem commented:

'We believe 230 Park Avenue is an irreplaceable prime property in the world's largest real estate market. This particular investment represents the perfect fit for us as we continue to add outstanding assets to our expanding international real estate portfolio.'


'The Jewel of Park Avenue,' as it is often referred to, is surrounded by many of New York's finest hotels, restaurants and social clubs. Many multi-national corporations have also made Park Avenue the hub of their global operations. 230 Park Avenue is a particularly attractive corporate location as evidenced by its impressive roster of tenants including ING Baring, Tokio Marine, HSH Nordbank, Bank of Argentina, and PB Capital.

Financing for the acquisition of 230 Park Avenue is being provided by Credit Suisse First Boston. Istithmar is being advised on the transaction by Island Capital, a real estate focused firm headed by Andrew L. Farkas.

Reflecting on Istithmar's real estate investment interests, Bin Sulayem elaborated: 'Within the real estate sector, Istithmar targets projects that are positioned to experience long-term substantial capital appreciation, rather than focusing exclusively on the yield of our properties.' Moving ahead, Bin Sulayem said 'We remain very bullish about key gateway cities like New York, London and Paris. We are also eyeing what we believe are tremendous opportunities across the various real estate asset classes in the Middle East, China, South East Asia and Eastern Europe.'

The company's current real estate portfolio is almost evenly divided between the Middle East and the rest of the world, with 40 per cent in Dubai, a leading gateway city in the Gulf region.


Istithmar's other real estate investments include:

One Traflagar Square

Pursuing its strategy of investing in key gateway cities and in assets which we believe are poised to experience long-term capital appreciation, Istithmar acquired One Trafalgar Square for GBP 155 million. Located on a high profile island site on the south eastern corner of Trafalgar Square and commanding stunning views of the surrounding area, the building is a premier property in one of world's most recognized locations providing Grade A headquarters office accommodation.

Kerzner International

In the course of working with Kerzner over a number of opportunities, Istithmar developed a strong appreciation for Kerzner's management and business model. On this basis, Istithmar decided to acquire a 13% ownership position in the hotel developer and manager of Atlantis, Paradise Island and the One & Only brand of resorts (NYSE:KZL) (www.kerzner.com).

Atlantis, The Palm

In partnership with Kerzner, Istithmar is developing the $1.4 billion expanded version of Kerzner's world-class Paradise Island Property at the apex of the Crescent of The Palm, Jumeirah.

Al Burj Real Estate Limited

Istithmar has entered into a commitment to invest in Al Burj Real Estate Limited. The total equity commitment by investors in this project is AED 7 billion / USD 1.9 billion. Al Burj Real Estate Limited is a key investor in Phase 1 of the Madinat Al Arab project which is part of the Dubai Waterfront Development (www.dubaiwaterfront.ae).

Golden Mile (Souq Residence FZCO and Souq Palm FZCO)

Istithmar has formed a joint venture with a major Kuwait based real estate development company, IFA Hotels and Resorts, to develop the 'Palm Golden Mile'. This investment represents 50% ownership in Souq Residence FZCO and 50% in Souq Palm FZCO, the two companies that own and operate the Residential and Retail parts of the Golden Mile respectively. The Golden Mile is one of the most prestigious of all elements on the trunk of The Palm, Jumeirah (www.Nakheel.ae). The Golden Mile will encompass some of The Palm, Jumeirah's premier retail and apartment residences. The Golden Mile Residences will showcase 10 waterfront buildings, and the Golden Mile Retail will feature 220 of the world's most upscale stores and restaurants, designer boutiques, outdoor cafes, luxury shops, and formal dining (www.thepalmgoldenmile.com).

Sorouh Real Estate Company

To capitalize on opportunities in the UAE's capital, Istithmar has invested in this newly established Abu Dhabi-based real estate development company (www.sorouh.com).

Island Global Yachting

Istithmar has taken a 29% ownership position in Island Global Yachting, a company formed by Island Capital that is amongst the world's foremost designers, developers and operators of mega-yacht oriented, mixed-use properties.

Istithmar Warehouses FZE

In order to exploit opportunities in the industrial center of Dubai, Istithmar has formed Istithmar Warehouses. The company was established to own, develop, lease and manage custom-built warehouses and light industrial units primarily for multinational companies seeking to establish a base in Dubai. Current clients include JVC and potential clients include a host of multinational companies such as Hitachi, Goodrich and Honda.

Yacht Haven Grande

Istithmar has invested in a US$200 million mega-yacht oriented mixed use real estate development in the US Virgin Islands.

Canal Point

Canal Point is a mixed-use development created by Istithmar. The key elements are a hospital developed in partnership with Bumrungrad Hospital (www.bumrungrad.com), a 250-room hotel, a spa and wellness center, two luxury residential towers and three office towers, all interlocked with retail and outdoor space. Canal Point aims to be one of the most attractive working and living spaces in Dubai, anchored around a concept of health and wellness extending into all aspects of the residents' daily lives.

[smussuw]

DP World, one of the world's leading port operators, has signed an agreement with the Qingdao Government to develop a green field site in Qingdao, which the port operator will develop into a new container terminal.



The terminal, 100% owned by DP World, will consist of a quay measuring 1,320 metres in length across four deep draft berths and will have a capacity in excess of 2 million TEU.

DP World, through its subsidiary, DP World China Qingdao Limited, has agreed to develop a new container terminal. Subject to all necessary final central government approvals, DP World expects to commence immediately all necessary project activities with a target for the terminal to commence operations by 2008/09. DP World's total investment for the project will be USD 500 million.

Qingdao, located in the Shandong Province in Eastern China, is home to the country's third largest container port which handles in excess of 6 million TEU annually.

DP World's investment into Qingdao is part of the port operator's strategic focus on the growth markets of China and North Asia. China's economy is forecast to grow at an annual averaged rate of 8% from 2006 to 2010, and is one of the world's top importers of oil, iron ore, coal and other raw materials. Crucial to China's continued growth is the country's port infrastructure. The Qingdao port will complement DP World's existing presence in the Chinese ports of Tianjin and Yantai.

Commenting on the agreement, Sultan Bin Sulayem, Chairman Dubai Ports and Free Zone Authority, said:


"This agreement further strengthens the already thriving trade links between Dubai and China, and we look forward to building a long term relationship with the Qingdao Government. Given the robust economic growth rates in the region, our investment is timely and we expect that our experience and success in developing and operating ports around the world will help the Qingdao Government to facilitate international trade and to capitalise on this growth."


Jamal Majid Al Thaniah, CEO Dubai Ports and Free Zone Authority, said:

"This is a very important step for DP World. The new terminal at Qingdao is a crucial development in our strategy of investing and developing ports in the world's growth markets, particularly in China and North Asia."

Mohammad Sharaf, CEO, DP World, said:

"DP World is fully committed to participating in the long-term growth of the transportation and logistics industry of China. Our commitment to investing in the Qingdao project is long term and is central to our plans in China. Our objective is to provide unsurpassed levels of service to all our customers at the facility."

[smussuw]

Abu Dhabi baught 17% of spiker.

[Dubai-Lover]

Emaar unveils AED 4.5 billion (US$1.2 billion) Bahia Bay project in Morocco

Emaar Properties, the largest real estate developer in the world in terms of market capitalization and ONA Group, the leading Moroccan industrial and financial group, today unveiled its second international venture in Morocco - Bahia Bay.


An artist's impression of Bahia Bay

The AED 4.5 billion (US$1.2 billion) project will see the joint venture develop a large scale residential golfing community along the picturesque Moroccan coast.

In close proximity to Casablanca, the 530 hectare development will combine all the benefits of an Emaar golfing community along with the advantages of a coastal location. This announcement closely follows the ventures first project launch last month in Morocco - Amelkis II, the luxury residential golfing complex in Marrakech which allows individual buyers to purchase plots of land and design and build their ideal home.

Mr Mohamed Ali Alabbar, Chairman Emaar Properties said:
'Situated along the breathtaking Moroccan coast, Bahia Bay is a unique development in an idyllic setting. Following the success of our existing golfing communities in Dubai - Arabian Ranches and Emirates Hills - the Bahia Bay community will become a flagship development for Emaar's expansion in the North Africa region.'



Residential units in the Bahia Bay project will range from luxury villas and spacious semi-detached houses to townhouses and apartments with views overlooking the golf course and spectacular views of the Atlantic Ocean.

The development will also feature a beach hotel, golf hotel, beach clubs, equestrian facilities, retail and entertainment and a community and recreation centre making Bahia Bay an ideal location for residents and visitors alike. The development is expected to be completed in five years.

This latest announcement sees the continuation of Emaar's roll out strategy of undertaking prestigious master-planned residential developments in strategic locations - whether in the heart of the city or coastal picturesque locations. As it bids to consolidate its position as the world's premier property developer, Emaar continues to provide buyers with quality lifestyle projects and shareholders with value.

Alabbar added: 'Morocco is a significant part of Emaar's international expansion plans. Already we have seen the great potential in the Moroccan market with our Amelkis II development. Not only will this project benefit the people of Morocco, but it will also boost tourism within the area. Our mission is to offer our customers world class communities - constantly integrating parks, landscaped areas and retail centres into master-planned themed lifestyles.'

With rock pools and breakwaters to help create sandy white beaches and an array of water sports and leisure options provided by the beach clubs, the latest Emaar offering in Morocco makes the most of the beautiful coastal views and surrounding natural beauty. Golfing facilities provide residents with the perfect opportunity to improve their golf as well as making the most of the relaxed and friendly clubhouse.

Located in close proximity to the Casablanca/Rabat coastal freeway, Bahia Bay is within easy reach of both major cities and is the ideal getaway for those in search of a premier luxurious lifestyle. Extensively landscaped with an array of indigenous plants and featuring picturesque water features, expansive open parks and a world-class golf course, the lifestyle offering is beyond compare.

[Bright Eyes]

Originally Posted by smussuw

Abu Dhabi baught 17% of spiker.

Spiker !!

[smussuw]

Originally Posted by Bright Eyes

Spiker !!

Spiker cars? am not sure of the spelling.

[smussuw]

P&O agrees bid from Dubai Ports
P&O ferry
P&O has scaled down its ferry activities in recent times
Ports and ferries group P&O has agreed to be bought by Dubai Ports World in a takeover deal worth £3.3bn ($5.7bn).

P&O said in a statement Dubai Ports (DP World) had offered 443 pence per share in cash for the company.

Last month, P&O announced that it had been approached by a potential bidder and speculation mounted that Dubai Ports was behind the talks.

The takeover signals the end of 165 years of independence for the world's fourth largest ports group.

DP World, owned by the Dubai government, said it plans to keep P&O's headquarters in London and chief executive Robert Woods will continue to head up the business.

Rival bid?

The company is one of several Dubai government-linked firms looking for assets to invest in, backed by huge cash piles from the Gulf emirate's resources.

"Putting P&O and DP World together will create one of the top three leading ports groups in the world," said P&O chairman John Parker.

The offer price represented a 46% premium to P&O's price before 30 October when P&O confirmed it was in talks. News of the potential bidder sparked a 30% rally in its share price on hopes that the approach could trigger a bidding war.

Denmark's Moeller-Maersk, Singapore government investment agency Temasek Holdings and Hong Kong's Hutchison Whampoa were named in the press as potential rival bidders for P&O.

However, no rival bids have emerged so far.

[smussuw]

for the record and to throw it to whom ever bash Dubai.

Dubai Ports World became the 3rd biggest ports operator in the world after buying P&O.

[smussuw]

something to wow about

ubai International Capital LLC ('DIC'), the international investment arm of Dubai Holding, today announced that it has signed an agreement to acquire UK-based Doncasters Group Limited ('Doncasters') for AED 4.5 Billion from Royal Bank of Scotland Equity Finance (RBEF).
United Arab Emirates: 1 hour, 51 minutes ago



Mohammed Al Gergawi, Executive Chairman of Dubai Holding

Doncasters is a leading manufacturer of precision engineered components and systems for applications in a variety of industries. The company operates 25 manufacturing facilities and employs over 4,500 people across Europe and North America. It has an international blue chip customer base in the aerospace and industrial gas turbines industries and the automotive turbocharger and medical technologies sectors.

Doncasters has long standing and very close working relationships with all the leading global players in every area of its operations. Clients include Boeing, GE, Rolls-Royce, Honeywell in aerospace and Siemens.

The management team of Doncasters, led by Eric Lewis, is fully committed to the future of the company and will re-invest alongside DIC to increase their ownership further.

This investment follows a series of strategic, value-driven investments by DIC including a US$1 billion investment in DaimlerChrysler, the £800 million acquisition of The Tussauds Group, along with its anchor investments of US$272 million in JD Capital investment company in Jordan and US$150 million in Ishraq, a company formed to develop and own up to 22 Express by Holiday Inn hotels in the Middle East.

DIC's financial adviser on the transaction was HSBC Bank plc. RBEF was advised by Lazard & Co. Limited. Completion of the transaction is subject to regulatory approval and is expected in February 2006.

Mohammed Al Gergawi, Executive Chairman of Dubai Holding, commented:

'This acquisition is in line with our mission to take direct investments in leading international firms and blue chip organisations, with the aim of generating long-term shareholder value, whilst creating strategic alliances for Dubai Holding'

Sameer Al Ansari, Chief Executive Officer of Dubai International Capital, added: 'We found in Doncasters, as in the case of our investment in The Tussauds Group, a market leader with a strong committed management team, led by its highly respected CEO, Eric Lewis and attractive growth opportunities. We believe that together with the management team, we will continue to grow Doncasters and produce above average returns for all its shareholders.'

Eric Lewis, Chief Executive of Doncasters, said: 'The acquisition by DIC is a strong affirmation of Doncasters' continued growth prospects. New ownership provides us with a stable platform from which we can build on our robust business pipeline.' We are looking forward to working closely with DIC to continue to deliver strong growth in the future. We also take this opportunity to thank the Royal Bank of Scotland for its continued support over the past four years.'


1. Dubai International Capital confirms it is one of the final bidders for DaimlerChrysler's diesel engine unit
2. Al Rifai named as Chief Executive of JD Capital
3. USD150 million deal to finance 20 Express by Holiday Inn Hotels in the GCC is secured
4. Dubai Holding entity becomes third largest shareholder in DaimlerChrysler
5. Dubai International Capital signs investment cooperation agreement with Chinese Government

[The-Sultan]

I dont know why sharjah doesnt invest abroad ..... maybe they are investing but not announcing it ... ?? any one knows about investments by sharjah ?

[smussuw]

^ I dont see a point of investing abroad without investing locally first.

[docc]

Could you elaborate smussuw? What kind of local investments are you thinking of? As in housing, health facilities and stuff like that or something else?

[dubaiflo]

of course. like dubai did, e.g BAA for example.

just think of roads, TRAINS etc..

[smussuw]

Originally Posted by docc

Could you elaborate smussuw? What kind of local investments are you thinking of? As in housing, health facilities and stuff like that or something else?

What I meant is that Sharjah needs to build itself first. I dont see a problem in investing abroad but come on, Sharjah needs better infrastructure and they are working on that. They also need to diversie their economy. Their GDP isnt that high either.