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Upon the directives of The President, His Highness Sheikh Mohamed bin Zayed Al Nahyan, the Emirates Red Crescent (ERC) announced the construction of 1,000 prefabricated housing units worth Dh65 million
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Mubadala's first $8b investment fund deal with GE in ’09 first quarter
ABU DHABI - Abu Dhabi's Mubadala Development Co. will make its first deal under an $8 billion investment fund venture with General Electric Co. (GE) early next year, an official said on Wednesday.
"The estimate for doing the first transaction is the first quarter," Waleed Al Mokarrab Al Muhairi, Mubadala's chief operating officer, told Zawya Dow Jones.
GE and Mubadala, in late July announced an agreement that involves allocating $4 billion each in equity for an investments targeting projects worldwide. "The fund will be global from day one," Al Muhairi said.
Mubadala Development Company (Mubadala) and General Electric (GE in July agreed to set up a $8 billion joint venture commercial finance company to explore investment opportunities in infrastructure, real estate, leasing, and finance sectors in Mena region.
The new joint venture business initially will focus on investment opportunities generated through GE Capital’s existing origination and servicing capacity with targeted assets in excess of $40 billion, once it is launched.
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