Gulf Islamic Investments group (GII) aims to double its existing portfolio of $750 million in the US through new investments in logistics, education, and food production and processing sectors, seeking new opportunities in the world’s largest economy.
The company will boost its investments in the US in the next four years through GII Saudi Arabia, a statement on Tuesday said.
Currently, the company has real estate investments in New Jersey and Florida, as well as investments in California-based EduTech provider zSpace, which launched a successful initial public offering on Nasdaq, New York, late last year.
“We are keen to expand our investments in the US, a country that GII knows well since our inception in 2014,” chairman of GII Saudi Arabia and group board member Fawaz Al Tamimi said. “The US is well-known as one of the best markets for private debt and private credit opportunities, which will allow GII to scale up its existing operations in these asset classes.”
The latest announcement comes as Gulf-based companies continue to boost their investments in the US as the economy grows.
Last month, Bahrain's Investcorp, the biggest alternative asset manager in the Middle East, said it had acquired properties in two US cities for more than $335 million, capitalising on its optimism about US growth.
The two portfolios feature 27 properties, totalling more than 250,000 square metres, in Minneapolis and Baltimore, Investcorp said.
Earlier this year, UAE company Damac Properties announced investments worth $20 billion to build data centres in the US. The first phase of the project will be carried out in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana.
GII is a Gulf-based global alternative investment company, with $3.5 billion worth of assets under management. The company deploys private capital across diverse alternative asset classes, including real estate, private equity and private credit or debt. Its client network includes ultra-high-net-worth individuals, family offices, banks, institutions and sovereign wealth funds in the Gulf and Asia.
Killing of Qassem Suleimani
How the bonus system works
The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.
The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.
There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).
All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.
SPECS
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UAE currency: the story behind the money in your pockets
KILLING OF QASSEM SULEIMANI
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Spare
Profile
Company name: Spare
Started: March 2018
Co-founders: Dalal Alrayes and Saurabh Shah
Based: UAE
Sector: FinTech
Investment: Own savings. Going for first round of fund-raising in March 2019
KILLING OF QASSEM SULEIMANI
ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
