Dubai flexes its buying muscle
DIC looks to spread its investment wings
EVEN IN DUBAI, a city teeming with high-rise buildings, the gleaming Emirates Office Towers stands out from the crowd. At more than 350 metres high, the office block is one of the tallest buildings in the world.
It is somehow appropriate that the fourth level of this impressive structure serves as the headquarters for Istithmar, a company that is beginning to stand tall in the investment world. Istithmar, which means investment in Arabic, is the asset management arm of government-owned conglomerate Dubai World, whose portfolio stretches across development, marine services, commodities, ports and free-trade zone divisions. One of Dubai World’s biggest companies is Dubai Ports, which hit the headlines in 2005 following its controversial acquisition of UK-based ports operator P&O for $3.9 billion.
Istithmar invests the surplus cash generated by Dubai World’s fleet of companies primarily...
You must be a subscriber to access this archived content.
If your subscription includes access to the archive, please log in now to view.
To gain access to this content visit the subscription page or call our hotline on +44 (0)207 779 8999.
Subscribe online now and save up to 30% on your subscription.
If you are a trialist or subscriber, please enter your username and password at the top right-hand side of euromoney.com
Subscribers to Euromoney benefit from:
- 12 months access in print and online - on euromoney.com, read the latest issue early online, search for specific developments by region or sector, interrogate the results of Euromoney's benchmark polls, and view the archive dating back to 1996
- More than 30 specialist research guides free
- The results of Euromoney’s polls and surveys
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Click here to subscribe
