x Abu Dhabi, UAEWednesday 26 July 2017

Thousands of new jobs planned for Abu Dhabi

In its first decade of operations, Mubadala has created 10,000 jobs in Abu Dhabi, and plans to add another 8,000 by 2020.

Dolphin is described as a classic Mubadala project in every way, providing a template for the future. Courtesy Mubadala
Dolphin is described as a classic Mubadala project in every way, providing a template for the future. Courtesy Mubadala

In its first decade of operations, Mubadala has created 10,000 jobs in Abu Dhabi, and plans to add another 8,000 by 2020, across its portfolio of aerospace, aluminium, energy, communications technology and semiconductors, according to the company.

Mudabala describes itself as a "catalyst" for the economic diversification of Abu Dhabi. Its strategy is built on the creation of partnerships and long-term investments that deliver strong financial returns and tangible social benefits for the emirate.

Health care, property and infrastructure and other services are the focus of its social infrastructure activities in the emirate, designed to deliver "clear socio-economic benefits".

Last year, more than 160,000 patients were treated in Abu Dhabi at key Mubadala healthcare facilities such as the Imperial College London Diabetes Centre and the Knee & Sports Medicine Centre.

More than 20,000 university places are now available in campuses developed by Mubadala including the UAE University, the Paris-Sorbonne Abu Dhabi University and Zayed University.

It manages a portfolio valued at more than US$50 billion (Dh183.66bn) of local, regional and international investments, many in partnership with leading global organisations across a wide range of business sectors, including the American giant General Electric (GE), the defence and aerospace contractor Lockheed Martin, and a number of academic centres of excellence.

Mubadala also partners the property investor Pramerica, the European aerospace group Airbus, the oil giant Total and the Cleveland Clinic, a leading American medical group.

In addition, it has direct equity investments in some of the biggest names in global business. Mubadala owns nearly 77 million shares (0.7 per cent) in GE; some 5.63 per cent of the Brazilian conglomerate EBX group; and a 7.5 per cent stake in the global private equity firm Carlyle Group.

It owns the semiconductor business GlobalFoundries, and acquired the music publishing business of EMI in a joint venture with Sony this year.

In addition, Mubadala Petroleum has operations in 12 countries, with exploration and production activities in the Middle East, Central and South East Asia, and Africa.

fkane@thenational.ae