Page 408 - Sustainable Cities and Communities Design Handbook

Business Ventures and Financial Sector Chapter j 19 381

INVESTMENT BODIESdTHE KEY PLAYERS AND
CONTRIBUTORS

According to the UN Conference on Trade and Development, between 2003
and 2008 the UAE was the third largest recipient of foreign direct investment
in West Asia, behind Saudi Arabia and Turkey.
Investments in overseas markets have been integral to the country’s stra-
tegic plan to create a security net for future generations who will face the
prospect of a depletion of the hydrocarbon reserves. The major international
investment bodies in the Emirates significantly contribute to the sustainable
growth of the country. They are the following:
21
l Abu Dhabi Investment Authority (ADIA) : Its mission is to secure and
maintain the prosperity of the emirate through the management of its
investment assets. ADIA is a leading international investor and for the past
35 years has established itself as a trustworthy and strong investor (supplier
of capital). The Authority supervises a substantial global diversified port-
folio of assets across varying sectors, regions, and asset classes (private
equity, property, public listed equities). ADIA does not seek active man-
agement of the entities it invests in, only long-term sustainable financial
returns.
22
l Abu Dhabi Investment Council (ADIC) : It is responsible for investing
part of Abu Dhabi’s surplus financial resources. It executes a globally
diversified investment strategy focused on gaining positive capital returns
across a range of asset classes.
23
l Invest AD : It is a subsidiary of ADIC; a government investment vehicle
similar to ADIA, established in 1977. Invest AD allows outside investors to
put their money in it (alongside). Invest AD invests on behalf of the
government and attracts capital from external investors.
24
l The Investment Corporation of Dubai : It invests to create stability and
foster diversification. It owns 60% of Borse Dubai, 25 a holding company
that performs as a holding company for Dubai Financial Market (DFM)
and NASDAQ Dubai.
26
l Dubai Holding : It is one of Dubai’s major holding companies, divided
between the Dubai Holding Commercial Operations Group (DHCOG) and
the Dubai Holding Investment Group (DHIG). It was formed in 2009 when
Dubai Group and Dubai International Capital (DIC) were combined. Dubai

21. http://www.adia.ae/En/home.aspx.
22. http://www.adcouncil.ae/.
23. http://www.investad.com/.
24. http://www.icd.gov.ae/.
25. http://www.borsedubai.ae/.
26. http://dubaiholding.com/.