Lack of quality institutional stock is limiting the extent to which global investment management firms are able to participate in Dubai s promising real estate market
Markaz: PTT Exploration Reigns The Top GCC M&A Transactions For Q1 2021 With The Acquisition Of A Minority Stake In Oman s Central Gas Processing Facility albawaba.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albawaba.com Daily Mail and Mail on Sunday newspapers.
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The value of mergers and acquisitions in the Middle East and North Africa reached $17.1 billion in the first three months of 2021, up 19 per cent on the same period last year, according to Refinitiv.
The acquisition of a 20 per cent stake in BP’s Block 61 gas field in Oman by Thailand’s PTT Exploration and Production Public Company for $2.59bn was the biggest single deal in the region during the period, the company s quarterly Mena Investment Banking Review showed.
Other prominent deals included Mubadala Investment Company’s $1.65bn purchase of refinery and logistics assets of Brazil’s Petrobras, the acquisition of Emaar Malls by its parent Emaar Properties for $991.6m and Sublime Commercial Investment’s acquisition of a 12.21 per cent stake in Aldar Properties for $953m.
ADNOC has been bringing on board strategic partners across its assets ADNOC firms ups its alliance with Abu Dhabi Pension Fund further, and continuing on the asset-based alliances it has struck with multiple institutional entities. Image Credit: Supplied
Dubai: The Abu Dhabi Pension Fund has concluded its biggest real estate focussed deal to date with ADNOC. It is also the fund s third transaction with Abu Dhabi s energy giant.
Under the terms of the agreement, ADPF will acquire a 31 per cent holding in Abu Dhabi Energy Real Estate Company – Sole Proprietorship llc (Adrec) for $900 million. The latter company was created to hold ADNOC’s 51 per cent stake in Abu Dhabi Property Leasing Holding Co. RSC ltd.,
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