By South China Morning Post | Created at 2025-01-07 00:31:23 | Updated at 2025-01-08 05:17:34
1 day ago
Chinese companies are contributing to the diversification of Abu Dhabi’s economy with increasing investments in ports, industry, energy and property, according to an official of the Abu Dhabi Investment Office (ADIO).
Investments by Chinese companies into the capital of the United Arab Emirates (UAE) are creating jobs, fostering infrastructure development and strengthening the emirate’s status as a global business hub, said Hareb Al Mheiri, executive director of the investor growth sector at ADIO, which is responsible for supporting investment in the emirate.
“One prominent trend is the increasing involvement of Chinese firms in port development and industrial zones, such as the China-UAE Industrial Capacity Cooperation Demonstration Zone at Khalifa Economic Zones Abu Dhabi Group, which is enhancing the emirate’s industrial capabilities,” Al Mheiri said in an interview.
The property market has also seen a surge in Chinese investment, with a focus on luxury residential projects and hospitality, he said. This is being driven in part by a rising number of Chinese tourists, spurring further investments in tourism infrastructure.
“Chinese companies are establishing manufacturing facilities [here], capitalising on the emirate’s strategic location and favourable business environment to tap into regional markets,” Al Mheiri said.
Abu Dhabi, which holds 90 per cent of the UAE’s oil reserves and most of the sovereign wealth, is seeking to diversify its economy and grow its status as a financial centre and free zone.
