|June 01, 2008
"The growth of Dubai has only just begun"
Zabeel Investments Executive Chairman gives keynote address at exclusive business forum
Dubai, 1st June, 2008: The growth of Dubai has only just begun and its biggest challenge is that it is not moving fast enough, the Executive Chairman of Dubai-based Zabeel Investments, H.E. Mohammed Ali Al Hashimi told an audience of over 60 financial strategists and analysts from world leading banks, in London.
Delivering the key note speech at the Reuters forum; 'Investment in the Middle East - Opportunities and Challenges', H.E. Al Hashimi paid tribute to the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President & Prime Minister and Ruler of Dubai.
H.E. Al Hashimi said, "Historically, the Middle East has been a turbulent area but considering all that, Dubai has been successful in proving itself the exception to the rule. That speaks volumes. Dubai has achieved its success not on gimmicks, but by a vision….not oil revenues, but the vision of an individual who believes that anything is possible if you put your mind to it. His Highness has set that example.
When you see the growth today, that's just the beginning. The investments made are purely down to business, never political. We operate in such a dynamic way, that when we see an opportunity, we go for it."
Referring to the global credit crunch, H.E. Al Hashimi said "It's a window of opportunity. We will create more jobs. The US economy will rebound, but for us, we can take advantage of the situation. "
Zabeel Investments fully embodies this mantra; "Dubai is not a dream. It is true. It is a reality. Anything is possible," said H.E. Al Hashimi, "The risks we take at Zabeel Investments are calculated, educated and robust to enable sustained growth. This is key to increasing the status and reputation of our company and Dubai, not only in the region, but globally."
Speaking of Dubai in a global sense, "Dubai is the hub of the Gulf and its financial centre now rivals London and New York." said H.E. Al Hashimi.
H.E. Al Hashimi made it clear the ability to deliver and create business opportunities in diverse areas was fundamental to the progress of Dubai and that there is no longer a reliance on natural resources, but the focus should continue to meet the demands of real estate and tourism. This is what Zabeel Property, the property arm of Zabeel Investments, has done.
Speaking about Zabeel Properties, H.E. Al Hashimi said, "We focus on being the best. By having the best people and best practice we deliver quality. As long as the demand is there we will continue to seek ways of meeting, and exceeding, these needs and expectations".
A question and answer session followed the speech, covering various topics ranging from how Dubai has been unaffected by the global credit crunch to the increased growth of Islamic Banking.
In his closing remarks, H.E. Al Hashimi invited the audience to "go to Dubai and see it, experience it and live the dream."
About Zabeel Investments
Founded in February 2006, Zabeel Investments is a Dubai-based diversified investment company with business interests spanning commercial real estate development and management, private equity and asset management across a wide range of economic sectors in the GCC and other international markets.
The company's combined AED 18.6 billion (US$ 5 billion) property and equity portfolio, has been evolved in to two wholly owned subsidiaries; Zabeel Capital, which will focus on growing the company's current AED 3.67 billion (US$1 billion) international and regional holdings and Zabeel Properties, a property arm dedicated to conceiving and developing commercial, residential, leisure and tourism properties, around the world.