Text size:

  • Small
  • Normal
  • Large

Investment agency to wait out recession

The investment arm of government affiliated Dubai Holding will focus on the region until the world economy improves.

Dubai International Capital, the investment arm of government affiliated Dubai Holding, will focus on the region rather than abroad over the next year, according to the firm's chairman and chief executive. "I don't want to invest now [outside the region]; globally, we are heading into a deep recession? which could last for one to two years and makes me want to be conservative," said Sameer al Ansari, at a conference in Dubai today.

He added that the only deals completed by DIC this year were in emerging markets, where he believed better opportunities exist. "Perhaps in the next 12 to 18 months, more lucrative opportunities will arise in the US and Europe; but for now, the focus should be on the region," he said. When asked about Dubai's rising debt as an obstacle to encouraging investments in the region, Mr Ansari countered that the emirate's debt levels were manageable, particularly in a region with an abundance of oil.

DIC, established in 2004, has a diverse, international portfolio consisting of stakes in aircraft manufacturer EADS in the Netherlands, electronics manufacturer Sony in Japan and HSBC bank in the UK. shamdan@thenational.ae

Back to the top

More articles

Editor's Picks

 The Greens, villas: Q1 no change. 3BR - Dh210-250,000. 4BR - Dh210-260,000. 5BR - Dh220-300,000. Q1 2013-Q1 2014 5% rise. Pawan Singh / The National

In pictures: Where Dubai rents have risen and fallen, Q1 2014

Find out how rental prices in the prime locations in Dubai have altered during the first three months of the year and the current rates you will pay according to data provided by Asteco.

 Miele coffee maker making Cappuccino at Miele Gallery in Sama Tower in Dubai. The cost of this coffee maker is around Dh 17,000. Pawan Singh / The National

Space-age coffee comes at a price from Miele

Miele have taken the coffee machine to a new level with its Dh17,000 offering that is built into your kitchen.

 The bridge of Seajacks Hydra, as the wind farm installation vessel undergoes finishing touches and testing works at Lamprell’s Hamriyah facility in Sharjah before its planned delivery on June 2, 2014. Jeffrey E Biteng / The National

In pictures: Building the Seajacks Hydra

The Seajacks Hydra, a wind farm installation vessel, is undergoing finishing touches and testing works at Lamprell’s Hamriyah facility in Sharjah before its planned delivery on June 2, 2014.

 The Wind, Energy, Technology and Environment Exhibition takes place from April 14 to April 16. Above, the Dewa showroom during last year’s Wetex. Jaime Puebla / The National

April corporate and economic calendar for the UAE and overseas

From Cityscape to Wetex to stock-market holidays to nations reporting first-quarter GDP figures, here is our helpful calendar of April's business events in the UAE and internationally.

 The rush of new supply of hotel rooms pushed Dubai occupancy rates down to 87 per cent. Sarah Dea / The National

Dubai hotel room rates rise 10 per cent

The rush of new supply pushed occupancy rates down to 87 per cent, a dip of 2.6 per cent from the previous year. Winter months are the strongest for Dubai hotels, with occupancy and prices falling to half their peaks by July.

 Get the latest information on credit cards, bank accounts and loan products in the UAE. Mark Lennihan / AP Photo

Rates report: Latest on UAE loans, accounts and credit cards

Souqamal.com brings you the latest interest rates on banking products in the UAE.


To add your event to The National listings, click here

Get the most from The National