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ADIH Plans to Establish Fund for Food Sector
ABU DHABI - Abu Dhabi Investment House, or ADIH, plans to launch an investment fund for the food sector as well as create a joint venture targeting the health sector in Abu Dhabi during fourth quarter of this year.
ADIH did not disclose details of the fund the healthcare joint venture.
Meanwhile, the investment firm successfully closed its Shariah-compliant $100 million Al Wataniya Fund in co-operation with Abu Dhabi-based Al Hilal Bank with the objective to finance a development within Abu Dhabi’s commercial sector.
The ADIH-managed fund in partnership with Al Hilal was launched during the second quarter of this year based on extensive research and studies on the Abu Dhabi market to address a 30 per cent gap between supply and demand within the commercial real estate sector and taking advantage of the competitive land prices due to the current international financial crisis.
Fawaz Ali Al Jowder, CEO at ADIH was delighted over the successful closing of the fund in partnership with Al Hilal Bank.
“The extensive study and research behind this fund confirmed the investment opportunities available within the Abu Dhabi real estate market which is still healthy thanks to the government directions and initiatives, he said.
business@khaleejtimes.com
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