What do a UK airport, a spaceship, the London Eye, Dunkin’ Donuts, one of Manhattan’s tallest skyscrapers and a championship English football club have in common?
The answer is that each are - or have been - part-owned by the UAE’s wealthy government-related entities.
Since discovering oil in the 1960s, the UAE has invested its petrodollars in a slew of trophy assets around the world in a bid to diversify its economy. Dubai led the field in its boom years, snapping up assets as varied as a Las Vegas casino company, to luxury department stores.
Abu Dhabi, home to one of world’s largest wealth funds, hasn’t been far behind with stakes in a space tourism company, top-end carmakers and iconic US skyscraper the Chrysler Building in its investment portfolio.business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.