Istithmar World opens NY office
Dubai, October 15, 2008
In a move highlighting the company’s global approach to investment and its growing focus on exceptional opportunities worldwide, Istithmar World, the investment arm of Dubai World, has opened its second international office in New York City.
The new office will serve as the third major base for Istithmar World after Dubai and Shanghai.
Istithmar World, which already has an active asset portfolio in the United States, will continue to target attractive investment opportunities with a vision to establish itself as the premier global investment firm from the Gulf region, said a top company official.
Commenting on Istithmar World’s rapidly growing global footprint, Sultan Bin Sulayem, chairman, Dubai World, said: "Opening an office in New York is a natural evolution of our growing presence in the Americas and demonstrates our commitment and enthusiasm for the region."
"We already have a solid asset base in the US and Canada, and through Istithmar World's corporate presence in a dynamic city like New York, we look forward to expanding our portfolio further," he noted.
David Jackson, chief executive officer of Istithmar World Capital, said the base in New York City provides the company a solid platform and hub from which it can build and develop regional investment activities and network.
"The current global market conditions have opened up many windows of opportunity for us. We believe that a permanent presence in the region will provide us better insight into potential investment opportunities in the Americas while enabling us to add greater value to our portfolio companies here in the US, Canada and in the future, elsewhere in the Americas," he observed.
"Our vision is to establish ourselves as the premier sophisticated investor from the Gulf region among the business community in the US."
"We continue to be excited by the opportunities in this market and plan to source investment opportunities in the Americas in line with our strategies for the specialised sectors in which we have made investments: consumer, industrial and financial services and real estate,” he added..-TradeArabia News Service