Abu Dhabi Blog

The Abu Dhabi Commercial Bank ADCB and Macquarie Group Ltd out of Australia are raising funds for a billion dollar partnership aimed at infrastructure development in the United Arab Emirates, Middle East and even North Africa. The ADCB Macquarie Infrastructure Fund will provide a Abu Dhabi and Australia developers with “a strong pipeline of investment opportunities” ** said Eissa al Suwaidi, ABCD’s Chairman.

This private fund will be providing capital for public infrastructure such as roads, water, gas, etc.. Abu Dhabi and Macquarie Group have been working together since 1995 when they originally formed a joint venture.

Source: http://www.bloomberg.com/apps/news?pid=20601081&sid=ar3U3C0IEETQ&refer=australia

In a $254 million deal, the Aabar Investment group out of Abu Dhabi has acquired the Swiss AIG bank. This may just be the beginning of the AIG house cleaning since it was taken over by the U.S. government post bailout. The Aabar Investments Chief Financial Officer, Mohammed Al Husseiny sounded very pleased with the deal “A Swiss private bank available for sale doesn’t happen often” ** he stated.

Will Abu Dhabi be vacuuming up more U.S. and European firms during this financial crisis? I think we will be hearing a lot more news like this… Stay tuned

Source: http://www.ft.com/cms/s/0/7ac5c9e0-c011-11dd-9222-0000779fd18c.html

In another move by Abu Dhabi’s Masdar, the future energy company and the U.K. signed an agreement to share clean energy technologies. Masdar and Britain will probably set up a mutual fund use it for eco tech projects like developing low carbon energy and harnessing wind power. Earlier this year Masdar bought a twenty percent share in London’s offshore wind project. Masdar, a clean energy crusader impressed the world with their recent groundbreaking of a zero carbon emission city, Masdar City.

Source: http://uk.reuters.com/article/environmentNews/idUKTRE4A22XJ20081103

ALDAR Properties, one of Abu Dhabi’s leading developers has announced today Abu Dhabi will develop Abu Dhabi into an international luxury boating hub. ALDAR has already set up a fund to begin development of this massive project as a part if its ALDAR Marinas program.

The Marinas program looks forward to the completing world class boating and yachting facilities in several locations throughout the tranquil waters of the Arabian Gulf and its many islands. The waterways will connect tourists and locals to nearby attractions.

Source: http://www.albawaba.com/en/countries/UAE/236577

I just found out about this Energy Prize competition and it looks like the deadline for submissions is coming up SOON! The deadline is the Sept. 30th 2008. The Zayed Future Energy Prize recognize innovation and leadership in the global search for future energy solutions. More Info