Istithmar not interested in banks for now
Posted by Editor on April 02, 2008 at 06:58 AM
Reuters reports that, “Dubai government investment agency Istithmar World has no plans to take advantage of tumbling bank sector prices by buying into troubled lenders, its vice chairman said on Wednesday.”
Istithmar buys Bahrain unit of UK insurer
Posted by Editor on March 22, 2008 at 06:03 PM
Emirates Business 24/7 reports that, “Istithmar World, the Dubai government’s private-equity arm, said it bought a Bahrain unit of Britain’s specialist independent international reinsurance broker PWS Holdings to boost its presence in the Middle East.”
Istithmar to invest in L.A.'s Grand Avenue project
Posted by Editor on February 23, 2008 at 10:45 AM
The Los Angeles Times reports that, “The developer of the $2-billion Grand Avenue project announced Friday that a sovereign fund controlled by the royal family of Dubai is investing a significant amount in the Frank Gehry-designed development… The fund, known as Istithmar, will provide the developer, Related Cos., with a $75-million equity investment in the project, about a quarter of the capital needed to secure a construction loan.”
Related Cos. recently received equity and debt investment from another Gulf sovereign wealth fund, Abu Dhabi’s Mubadala Development Company.
Dubai's £130mn swoop on London's Metropole hotel
Posted by Editor on February 06, 2008 at 10:04 AM
Property Week reports that, “The Metropole hotel at Whitehall Place has been bought by International Hotel Investment, of which Istithmar is a major stakeholder. The building is now going to be developed into a five-star 283 bed hotel and luxury residential accomodation.”
Adel Al Shirawi appointed vice chairman of Istithmar World
Posted by Editor on January 31, 2008 at 03:58 PM
BI-ME reports that, “Dubai World, one of the world's largest holding companies, today announced the appointment of Adel Al Shirawi as the Vice Chairman of Istithmar World, an alternative investment house for Dubai World. Al Shirawi, the former Chief Executive Officer of Tamweel, the largest provider of real estate finance in the UAE, will assume his duties from 3 February 2008, and as Vice Chairman, he will report directly to the Chairman of Dubai World and Istithmar World, Sultan Ahmed Bin Sulayem.”
Istithmar World is the new name of Istithmar.
Istithmar weighs in on dollar peg debate
Posted by Editor on January 16, 2008 at 06:24 AM
ArabianBusiness.com reports that, “Government-owned investment company Istithmar weighed in on the dollar peg debate on Tuesday, with its CEO cautioning that further erosion of the greenback's value would be detrimental to the state of GCC economies linked to it and for future Gulf generations.”
Istithmar considers investing in China to avoid western backlash
Posted by Editor on January 16, 2008 at 05:49 AM
Emirates Business 24/7 reports that, “Istithmar, a Dubai government-managed investment firm, is considering investments in China as sovereign wealth funds seek to avoid markets in the United States and Europe to avoid political backlash.”
Nakheel and Istithmar join to expand hotel business
Posted by Editor on December 12, 2007 at 07:23 AM
AME Info reports that, ” Nakheel Hotels is the new name for Istithmar Hotels after Dubai World consolidated its hotel business under one banner to create a fully integrated hotel investment company.”
Istithmar moves into venture capital, debt investing
Posted by Editor on December 11, 2007 at 08:56 PM
Reuters reports that, “Dubai government-owned investment agency Istithmar will expand into venture capital and debt investing in the first half of 2008, its CEO David Jackson said on Tuesday.”
Dubai's Istithmar eyes subprime hit US firms
Posted by Editor on December 11, 2007 at 09:41 AM
Reuters reports that, “U.S. real estate and financial companies hit by the mortgage market woes are an attractive investment opportunity, David Jackson, the chief executive of the Dubai-government-owned investment agency, Istithmar, said on Tuesday.”