7th APRIL 2015 - Vol.XXXVIII No.018
Business News

$136m firm is launched

DUBAI: Dubai's biggest listed investment company has announced the launch of a new regional investment arm based in neighbouring Fujairah.

Al Taif Investments, a joint venture between Dubai Investments (DI) and Fujairah Investment Establishment (FIE), will start operations this month with paid-in capital of 500 million dirhams ($136m).

DI has acquired a stake of 60 per cent in the joint venture, with the other 40pc owned by FIE.

The new company will focus on real estate investments and greenfield industrial projects across the Gulf.

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