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ADIH to float property fund

"During the first three months of our operations the Company earned a net profit of Dh40 million", said Rashad Janahi, CEO, Abu Dhabi Invetment House. Terming the operations of the first quarter as extremely significant, Janahi, said: "The first quarter was indeed a very challenging period for us, during which we established a cutting-edge reputation for ADIH as a value-driven and growth-focused entity clued in to salient investment opportunities in the local, regional and global markets. We have a robust outlook for the rest of the year and beyond with a number of strategic investment activities on the anvil.'

In the first quarter, ADIH introduced two successful investment opportunities - a $75 million Al Arabi Private Equity Fund and $100 million Energy City Qatar private placement.

'We received tremendous response to these investment offers from investors and we have closed Al Arabi Private Equity Fund and robust response ensured early closure of the Energy City private placement,' Janahi said.

The Al Arabi Private Equity Fund has successfully invested in First Leasing Bank (FLB) of Manama, taking a significant equity stake in the region's pioneering Islamic equipment leasing entity. The fund has also invested in the Kuwait-based Gulf Holding Company (GHC) which has significant investment interests in the property markets of the region, particularly in the Kingdom of Bahrain and Kuwait.