Waha Capital turns attention to real estate
- Published: 19 February 2008 12:13 GMT
- Author: Victoria Robson
- More by this Author
- Last Updated: 20 February 2008 18:14
Abu Dhabi-based Waha Capital will invest AED15m ($4bn) in real estate projects in Abu Dhabi, including warehousing, labour camps and middle-income housing.
The holding company, previously known as Oasis Leasing, has been allocated a 6-square-kilometre area of land to develop in Al-Hameem.
Real estate investment marks a change for the company, that has previously concentrated on its aircraft leasing business.
The company plans to invest more than AED20bn ($5.4bn) by 2011 in aviation, real estate, infrastructure, maritime and logistics sectors. It is looking to acquire businesses and set up new ventures.
Under the new holding structure, the company has been reorganised into leasing, financial services, real estate and maritime subsidiaries.
It acquired a 42.5 per cent stake in Bahraini investment bank Addax Bank in December and also has a stake in a $500m infrastructure fund launched in partnership with HSBC and Dubai International Capital.
