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Discuss this article (0 Comments)Zabeel sets up unit to drive expansion
by This email address is being protected from spam bots, you need Javascript enabled to view it on Sunday, 30 March 2008
Dubai's Zabeel Investments, which took part in the emirate's purchase of a stake in Airbus parent EADS last year, said on Sunday it had set up a unit to help it expand into new regional and global markets.
Zabeel Capital will manage the company's 3.67 billion dirham ($999.5 million) portfolio, Zabeel Investments said in a statement.
"Dubai has become synonymous with investment, particularly from an international perspective and Zabeel Capital will play its part... to enhance this reputation," Mohammed Al-Hashimi, executive chairman of Zabeel Investments, said in the statement.
Jbran Rahal, the former chief financial officer (CFO) of Zabeel Investments, will be the new firm's managing director, it said. (Reuters)
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