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Africa's booming commodities markets are attracting a wave of investment from the Gulf's industrial giants, with phone companies, real estate developers, construction firms and even fund managers all joining the stampede.
For the chairmen of Dubai World and Kingdom Holding, it is the world's great untapped investment destination.
"I believe this continent is still sleeping," says Kingdom chief HRH Prince Alwaleed Bin Talal, whose investments in Africa returned a yield of 120% last year.
Dubai World is also ramping up its investments across the continent.
"We have targeted Africa because we believe in the growth," explains chairman Sultan Ahmed Bin Sulayem.
With its abundance of natural resources and metals, regional investor appetite for Africa is growing by the day. Approaches and goals might vary, but the destination is the same. Getting into Africa - and getting there now - is the name of the game.
The boom in global commodities markets which has seen copper, iron ore and alumina reach record prices this year is one of the biggest attractions.
Industrial giants including Saudi Arabia's Sabic, Industries Qatar and Dubai-based Dubal have all looked at investing in projects giving them greater control over the raw materials on which they rely.
"Africa is the last frontier," says John Sfakianakis, the Riyadh-based chief economist at SABB, an affiliate of HSBC.
He points out that while the Gulf has benefited from one end of the commodity growth story in the form of US$100 oil, it has yet to reap the benefits of other booming commodity markets.
Industries Qatar, the Gulf country's biggest company by market value, is considering taking a stake in a US$1.5bn iron ore project in Mauritania that also caught the interest of Saudi rival Sabic, before the company decided it was looking for bigger returns than those then on the table.
The UAE's northern emirate of Ras Al Khaimah is also seeking to tap Africa's mineral wealth.
Madhu Koneru, managing director of RAK Minerals and Metals Investments (RMMI), knows exactly why his company decided to venture into the continent.
"That's where the minerals are," he says with a shrug.
RMMI, an initiative by Ras Al Khaimah Investment Authority (RAKIA), aims to cater to the growing demand for industrial minerals and metal resources by investing in emerging markets such as Africa, Eastern Europe and the Far East.
