Dubai-based sharia-compliant mortgage company Amlak Finance has established a wholly-owned subsidiary, Amlak Investments (AI), to conduct a review of its investment portfolio and manage future investments. The new company has a paid-up capital of AED 500 million ($136 million) and will seek investment opportunities in the oil and petrochemicals sector in the Gulf, the telecommunications sector across the Middle East and real estate globally. AI plans to invest directly in public equities and to launch blue chip and property equity funds by the end of the year.
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