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Global ambitions
Abu Dhabi Investment House (ADIH) has been a part of the Gulf financial scene for only two years but has already started making big waves in the region. Founded in 2005, the group's net profits had increased 375% by the following year and a new office has already been opened in the heart of Europe.
"The idea was to start an investment banking boutique," explains Rashad Janahi, ADIH's ebullient CEO. "The way we went about it was that we thought, ‘Abu Dhabi is one of the strongest markets in the region and there is still a lot of potential.' As a result, a research study was conducted to assess the market and opportunities and found our niche."
With fifteen years experience in banking in the region, first with Al Baraka Islamic Bank and subsequently with HSBC UAE's Private Banking section, Janahi is adept at finding alternate, untapped investment opportunities for the group: "When we launched it was peak time for listed stocks in the GCC, where most people were investing. Since we target high net worth individuals and organisations, we came up with products such as the ‘Al Arabi Private Equity Fund', which allowed us a good range of diversification, and that's where our success journey began."
ADIH's real estate and investment portfolio now includes developments throughout the GCC; from Qatar's US$3bn Entertainment City or a US$100m stake in the Sunset Hills in Bahrain to Beirut Gate and Saudi funds. The Lagoon, which Janahi proudly describes as one of their ‘flagship projects', was 60% contracted within four weeks of its launch. The expansion continues, with slightly over US$217m raised to leverage US$845m to develop the Gulf German Residences. This year also saw the opening of offices in Bahrain and Geneva to facilitate the pursuit of global opportunities.
"We started in Abu Dhabi, where we had a lot of success in terms of product and investors. Based on that, our next step was to open an office in Bahrain - which, as you know is one of the region's most important financial centres," Janahi explains. "Once the Bahrain office was established, Geneva became attractive - given its reputation in private banking, as well as, its strategic geographic location within Europe. However, ADIH Geneva will offer services in asset management, family office services, portfolio consolidation / cost and return control, as well as, advisory services for real estate and legal transactions.
Our global expansion is not restricted to Europe, as we have existing investments in Asia - which is a very attractive market and could possibly see more ADIH activity, as is America as a highly potential market.
As quickly as events are unfolding Janahi wants to ensure that the group guards against unnecessary overexposure: "Whenever we are expanding, we are cautious in the way it's done. Conducting due diligence and evaluation, as well as seeking international consultancies when required all are musts before we take a step or make a move.
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