A government-backed investment company from Dubai plans to invest $2.5 billion in Asian economic giants India and China over the next two years, a leading financial daily said on Monday.
"The investment company has spent the last 3-4 years familiarising itself with Asia and building its portfolio with a series of small investments," Soud Ba'alawy, executive chairman of Dubai Group, was quoted as saying by the
Wall Street Journal.
With a portfolio in the region already in excess of $1 billion, the firm is now prepared to get more aggressive, and is looking at large-scale investments in manufacturing, real estate and finance, Ba'alawy said.
"We feel right now we've done the first stage," he told the
Journal in an interview in Dalian, China, where he was attending a World