Abu Dhabi Blog

Mubadala and GE have agreed to set up a commercial-finance division geared towards Middle Eastern/African markets. Each side will contribute approximately $4 billion over the next three years. With this partnership it looks like Mubadala will be one of GE’s top 10 shareholders by next year.

This partnership comes right in time for the struggling GE stock and delivers investors in GE confidence. Read about initiatives that the the multi-faceted partnership will explore Here.

Source: http://www.mubadala.ae/en/media/press-releases/ge-and-mubadala

One of the most iconic skyscrapers in the “Big Apple” is now property of Abu Dhabi. The 77 story Chrysler Building was purchased by the Abu Dhabi Investment Council for $800 million. Tishman Speyer Properties a private real estate group in New York will retain 25% ownership of the building, as Prudential Financial sold their 75% stake in the building. The Chrysler Building is located in midtown Manhattan across from Grand Central Station.

Source:

http://afp.google.com/article/ALeqM5iBsnKb2ffEd_oIgvrB73xQxluK6g

I came across a very interesting video I deemed worthy of sharing. “Abu Dhabi 2030 Plan” Has four major key themes: Green, Live, Work and Connect. The Abu Dhabi Urban Planning Council really has put together a sustainable plan for the future, it’s quite exciting!

Last months Cityscape Abu Dhabi 2008 was an amazing show. It was a sold out conference featuring over 300 exhibitors and attracting over 50,000 visitors. This is a huge increase over the 15,000 attendees who turned out for last years Cityscape. You must checkout this newsletter from the show it’s a great read! A friend of mine was able to attend the conference and emailed me a handful of great pictures some of which I posted below: (thanks John!)

News Source: http://www.cityscapeabudhabi.com

The Abu Dhabi Investment Authority (ADIA) has completed a deal with the world’s largest bank Citigroup to buy a 4.9% stake in it’s business. This news was a shock to many U.S. businesses, but to the Abu Dhabi Investment Authority it’s just a notch in the belt as they add this to their nearly $300 billion portfolio. The 5% stake was a $7.5 billion deal. Read more about this in the link below..

Source:
http://www.businessweek.com/globalbiz/content/jun2008/gb2008065_742165.htm?chan=top+news_top+news+index_news+%2B+analysis