Zabeel sets up unit to drive expansion

by John Irish 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.

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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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