Turkey
Two executives of former crypto investment platform arrested for fraud in Istanbul
Two executives from a former crypto investment platform accused of fraud were arrested in Istanbul earlier this year, Turkish media reported.
Abu Dhabi's biggest developer Aldar Properties said it will invest 5 billion dirhams ($1.36 billion) to build new office, retail and hospitality facilities in the state by 2027.
The new properties, including a 12-storey office tower on Yas Island, a business park on Saadiyat Island, and a second commercial tower on Al Maryah Island
Abu Dhabi's biggest developer Aldar Properties said it will invest 5 billion dirhams ($1.36 billion) to build new office, retail and hospitality facilities in the state by 2027.
The properties will be located in Al Maryah Island, Abu Dhabi's financial district, as well as in Yas Island and Saadiyat Island, to address "strong corporate demand for Grade A office space," Aldar said in a bourse statement.
The new properties, including a 12-storey office tower on Yas Island, a business park on Saadiyat Island, and a second commercial tower on Al Maryah Island, will be completed in phases between 2025 and 2027.
Upon completion, they will be part of the Aldar Investment Properties' portfolio, which counts U.S. private equity firm Apollo as a minority shareholder, the company said.
Abu Dhabi's financial district is expanding its area of jurisdiction to 10 times its footprint by adding al-Reem Island to its current location on al-Maryah Island, Reuters reported in September.
Abu Dhabi is home to three sovereign wealth funds, Abu Dhabi Investment Authority, Mubadala Investment Company and ADQ and is quickly becoming a hub for hedge funds, family offices, venture capital firms and crypto traders.
Last year Ray Dalio, the billionaire and founder of hedge fund Bridgewater Associates, opened a branch of his family office in the United Arab Emirates' capital, which has also attracted peers including Brevan Howard.
Aldar is 25%-owned by Mubadala and 26%-owned by International Holding Company, which is part of a business empire overseen by Sheikh Tahnoon bin Zayed al-Nahyan, the UAE's national security adviser and brother to the president.
($1 = 3.6725 UAE dirham)
Reporting by Federico Maccioni
Two executives from a former crypto investment platform accused of fraud were arrested in Istanbul earlier this year, Turkish media reported.
Abu Dhabi's Mubadala Investment Company applied to Turkey's Competition Board to take sole control of Turkish grocery delivery company Getir Perakende Lojistik, a statement on the board's website showed on Friday.
The negative impact on maritime shipping and global supply chains from attacks in the Red Sea continues to intensify as traffic is rerouted away from the Suez Canal, Danish shipping company A.P. Moller-Maersk said on Thursday.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.