Dubai Group planning to invest $2bn in China
Dubai Group, owned by the emirate, is planning to invest around $2 billion in the Chinese financial and property sectors over the next year to 18 months, its executive chairman said.
The investments in China will focus mainly on the investment banking sector as well as hospitality-orientated real estate initially, Soud Ba'alawy said.
"It depends upon the opportunity, but I think that we have the potential to invest up to $2 bn of equity over the next, let's say, 12-18 months," Ba'alawy said on the sidelines of a meeting of the World Economic Forum .
"Tomorrow you might get a $200 million deal, tomorrow you might get a $2bn deal - if it makes sense, we'll do it.
"But at least planning-wise we say, 'okay, maybe $2bn would probably (do) for the next 12-18 months'".
Ba'alawy said the group had held talks with a few financial institutions in China and would be looking to take stakes in top investment banks and potentially regional commercial banks.
Parallel to the investments in China, the group was planning a big push to help Chinese industrial firms make investments in the Middle East and North Africa, he said, adding that it was planning a road show next week in Beijing.
Dubai Group is part of Dubai Holding, which is owned by Dubai ruler Shaikh Mohammed bin Rashid Al Maktoum. Source
The investments in China will focus mainly on the investment banking sector as well as hospitality-orientated real estate initially, Soud Ba'alawy said.
"It depends upon the opportunity, but I think that we have the potential to invest up to $2 bn of equity over the next, let's say, 12-18 months," Ba'alawy said on the sidelines of a meeting of the World Economic Forum .
"Tomorrow you might get a $200 million deal, tomorrow you might get a $2bn deal - if it makes sense, we'll do it.
"But at least planning-wise we say, 'okay, maybe $2bn would probably (do) for the next 12-18 months'".
Ba'alawy said the group had held talks with a few financial institutions in China and would be looking to take stakes in top investment banks and potentially regional commercial banks.
Parallel to the investments in China, the group was planning a big push to help Chinese industrial firms make investments in the Middle East and North Africa, he said, adding that it was planning a road show next week in Beijing.
Dubai Group is part of Dubai Holding, which is owned by Dubai ruler Shaikh Mohammed bin Rashid Al Maktoum. Source
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