UAE petrodollars make their mark on the world

From football clubs to superscrapers, the Gulf state’s glitziest trophy assets revealed
UAE petrodollars make their mark on the world
Abu Dhabi holds a stake in iconic US tower the Chrysler Building
By Shane McGinley
Wed 30 Nov 2011 06:10 PM

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.

As the UAE celebrates its 40 National Day, take a closer look at how the Gulf country  [click here] has taken a seat at some of the biggest boardrooms in the world.

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