Abu Dhabi stands for sustained Growth and Investment

Abu Dhabi is becoming the breakout emirate for investment and growth as Dubai’s image still reels from its financial woes during the global credit crisis, said speakers at the Reuters Middle East Investment Summit.Abu Dhabi came into the spotlight after its high profile bailout of state owned Dubai World turned the emirate into a white knight and its conservative financial approach appealed to investors burned by Dubai’s exuberance.Abu Dhabi’s appeal with regional and international investors crosses sectors, from oil and gas to the battered corporate banking and real estate markets, executives said.At the same time, Abu Dhabi is emulating Dubai in ways, building leisure and entertainment facilities, as well as more active financial districts, to draw more residents.Traditionally Abu Dhabi was more conservative in its development projects compared to neighbouring Dubai. During the heydays of the real estate boom, Dubai’s glitz easily eclipsed Abu Dhabi conservative policies. But with the collapse of the six year boom, Abu Dhabi has fared better, making it more appealing to investors.

There has been an influx of oil and gas companies, as well as infrastructure related entities, that now have long term contracts in Abu Dhabi of 15 to 25 years and are looking for reasons to reside in the emirate, rather than Dubai. Abu Dhabi is also expected to be an active hub for corporate banking. Financial institutions, are expanding their presence to meet the growing need in the market. (Source: Reuters)

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