Abu Dhabi National Oil Company helped attract Dh62 billion ($16.8bn) in foreign direct investment to the UAE this year, mainly through various multi-billion dollar transactions signed in the midstream and infrastructure segments.
Over the last four years, the state-owned firm has helped to drive Dh237bn in FDI flows to the UAE.
On Sunday, the company said it plans to spend Dh448bn to develop its upstream, midstream, downstream and its trading and marketing businesses over the five years between 2021 and 2025. Of the proposed spending, Dh160bn will be directly channelled into the UAE economy.
In July, a consortium of the world’s leading infrastructure and sovereign wealth funds signed an agreement worth $20.7bn to invest in Abu Dhabi’s natural gas pipelines infrastructure. The transaction, the largest single global energy infrastructure deal this year and the Middle East's biggest, will unlock $10.1bn of foreign investment into the UAE.
Global Infrastructure Partners, Brookfield Asset Management, Singapore’s sovereign wealth fund GIC, Ontario Teachers’ Pension Plan Board, South Korea's NH Investment & Securities and Italy’s Snam took stakes in Adnoc’s lucrative midstream assets.
In September, a $5.5bn deal with Apollo Global Management to lease some of its properties led to a further FDI inflow of $2.7bn.
Last month, Abu Dhabi Pension Fund and ADQ said they would invest $2.1bn in Adnoc’s gas pipeline infrastructure, as the energy company looks to open up opportunities for local investors too.
In an interview with The National in September, Adnoc Group chief financial officer Ahmed Al Zaabi said the company was also committed to providing opportunities for local investors as its efforts to attract foreign capital pick up pace.
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If you go
The flights
The closest international airport for those travelling from the UAE is Denver, Colorado. British Airways (www.ba.com) flies from the UAE via London from Dh3,700 return, including taxes. From there, transfers can be arranged to the ranch or it’s a seven-hour drive. Alternatively, take an internal flight to the counties of Cody, Casper, or Billings
The stay
Red Reflet offers a series of packages, with prices varying depending on season. All meals and activities are included, with prices starting from US$2,218 (Dh7,150) per person for a minimum stay of three nights, including taxes. For more information, visit red-reflet-ranch.net.
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.
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Titanium Escrow profile
Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue
Stage: Early stage
Investors: Founder's friends and Family
Tips to avoid getting scammed
1) Beware of cheques presented late on Thursday
2) Visit an RTA centre to change registration only after receiving payment
3) Be aware of people asking to test drive the car alone
4) Try not to close the sale at night
5) Don't be rushed into a sale
6) Call 901 if you see any suspicious behaviour
Racecard
6.35pm: The Madjani Stakes – Group 2 (PA) Dh97,500 (Dirt) 1,900m
7.10pm: Evidenza – Handicap (TB) Dh87,500 (D) 1,200m
7.45pm: The Longines Conquest – Maiden (TB) Dh82,500 (D) 2,000m
8.20: The Longines Elegant – Conditions (TB) Dh82,500 (D)
8.35pm: The Dubai Creek Mile – Listed (TB) Dh132,500 (D) 1,600m
9.30pm: Mirdif Stakes – Conditions (TB) Dh120,000 (D) 1,400m
10.05pm: The Longines Record – Handicap (TB) Dh87,500 (D) 1,900m
