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ADQ News

Pedestrians share the road with traffic in Nairobi; Kenya has been struggling to manage its debt load

Kenya in loan talks with UAE to reduce debt

Kenya and the UAE are discussing a commercial loan worth $1.5 billion, according to the Kenyan minister of finance. The loan would have an 8.25 percent interest rate and a seven-year tenor, John Mbadi told a press conference on Wednesday.  “This loan is cheaper than the Eurobond we borrowed at 10.7 percent,” Mbadi told the […]

Founded in 2012, Odeabank is Turkey’s 13th largest private bank by total gross loans and customer deposits

ADQ buys 96% of Bank Audi’s Turkish unit

The Abu Dhabi sovereign wealth fund ADQ has signed an agreement to acquire 96 percent of Lebanon-based Bank Audi’s Turkish subsidiary, Odeabank. The transaction is subject to regulatory approvals, including from Turkey’s banking regulation and supervision authority and the competition authority. As part of the deal, Bank Audi and other investors such as the International Finance […]

Christie’s to open new office in Saudi Arabia

British auction house Christie’s announced last month that it had received a commercial licence to conduct sales and exhibitions in Saudi Arabia. From its new base in Riyadh it is hoping to tap into a secondary market for luxury goods and state institutions’ growing appetite for art.  The company, which has its headquarters in London, […]

Abu Dhabi has five separate SWFs to diversify its investments

Abu Dhabi is top global city for SWF assets with $1.6trn

Abu Dhabi’s various sovereign wealth funds have a combined $1.67 trillion in assets, having overtaken Oslo to become the wealthiest global city for SWF assets. This total includes Abu Dhabi Investment Authority (Adia), Mubadala, ADQ and Abu Dhabi Fund for Development, plus the federal government-owned Emirates Investment Authority, according to a report by Singapore-based consultants […]

Regional and international hotel operators are keen to expand in Egypt, but it also needs to improve infrastructure such as airports to support its tourism ambitions

Infrastructure needed to support Egypt’s tourism ambitions

Regional and international hotel operators are keen to expand in Egypt, but the country needs to improve infrastructure such as airports to support its tourism ambitions, industry sources have said. Egypt aims to emulate the high-end hospitality and entertainment development that the UAE and other Gulf countries have pioneered, at the same time bringing in […]

UAE president Sheikh Mohamed bin Zayed Al Nahyan and Egypt's president Abdel Fattah El-Sisi attend the signing ceremony of appointing Modon Holding as developer of Ras El Hekma

ADQ unveils plans for Ras El Hekma Egyptian project

Abu Dhabi sovereign wealth fund ADQ has revealed plans for the Ras El Hekma mega development, which is expected to contribute $25 billion annually to Egypt’s GDP and create 750,000 jobs both directly and indirectly. The sovereign fund has appointed Abu Dhabi-listed Modon Holding as the master developer for the 170 million sq m project. […]

Kenya's president William Ruto. A UAE loan will help the East African nations's budget deficit, which is expected to rise to 4.3 percent of GDP this year

Kenya nears $1.5bn loan from UAE to address budget gap

Kenya is close to securing a $1.5 billion loan from the UAE to address its budget financing gap. The loan will have an interest rate of 8.2 percent, Reuters reported, citing people familiar with the talks. “The deal is as good as done,” an unnamed source said, adding that the move will diversify the government’s […]

ADQ owns a stake in Abu Dhabi Ports Co. The fund’s assets under management reached $225 billion at the end of June 2024

ADQ’s $2bn bond issue draws fourfold demand

Order books for the $2 billion bond sale by Abu Dhabi’s ADQ crossed $8 billion as it plans to diversify it funding sources to support new acquisitions. The sovereign wealth fund issued two tranches: a $1 billion seven-year bond at 85 basis points (bps) over US Treasuries and a $1 billion 30-year bond priced at […]

Antonoaldo Neves, CEO of Etihad, said it is important that the airline has the capital to finance future growth

Etihad Airways to invest billions as it prepares for IPO

Etihad Airways, the national airline of the UAE, is planning to invest $7 billion over the next five years and to double the size of its fleet by 2030 as it prepares to go public, its chief executive said. Antonoaldo Neves told a conference in Abu Dhabi on Wednesday that the investment is part of […]

Emaar Misr's Alamein hotel in Marassi

Dubai’s Emaar pledges Egypt development worth $1 billion

Property developer Emaar plans to invest $1 billion in Egypt in the next 12 months, according to a senior executive. Mohamed Alabbar, the Dubai-based company’s founder, shared the news in an interview with an Arabic-language news outlet, saying the new injection of funds by Egyptian affiliate Emaar Misr Development would build on about $20 billion […]