Chairman of Dubai property developer Nakheel Sultan Ahmed Bin Sulayem hosted a luncheon with influential US based business leaders in New York this week.
The dialogue focused on business opportunities in Dubai and how strategies established by the government are working to help the UAE diversify away from an oil-centric economy and strengthen its competitive role in today's global market place.
The presentation focused on commercial as well as residential opportunities in Dubai and highlighted the Nakheel investments of over $15 billion already under development or contracted in the Emirate. Bin Sulayem shared that in addition to the over 60 foreign banks that currently operate in Dubai, in the first quarter of this year, Dubai will undertake its first debt securitization sized at one billion dollars through Emirates National Securitization and Finance Company.
Many leaders from top US investment banks including Vice Chairman of Morgan Stanley, Dick Bott and Chairman of Credit Suisse First Boston, John Mack shared their perspectives and excitement on the great potential for Dubai. The discussion addressed issues related to continued growth in Dubai and the potential for the city to become the Middle Eastern center for commerce and development.
Nakheel has therefore placed great importance on examining the requirements of the different sectors of the community and developing its visionary projects around these findings. Nakheel's portfolio currently includes The Palm, The World, Jumeirah Islands, The Gardens, The Gardens Shopping Mall, Jumeirah Lake Towers and International City. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
