A leading investment firm operating in the Middle East says that there has been a significant increase in capital inflows into the U.A.E. from emerging markets, particularly the BRIC countries (Brazil, China, India and Russia), overtaking the MENA (Middle East and North Africa) region.
Hamed Mokhtar, Managing Director at Fortress Investments, said, “The U.A.E. is becoming more important on a global scale, in addition to emerging as an unparalleled investment hotspot. The capital invested in the U.A.E. from MENA region is more in the form of individual property assets, whereas the U.A.E.’s role in attracting capital flow from BRIC countries is the result of progressive government measures and global partnerships.” He added, “India commands the lion’s share of BRIC capital coming into the country. The U.A.E. is a net importer of capital mainly from emerging markets and regional markets, where capital inflow from developed markets is low.” The revelation comes on the heels of index provider MSCI’s upgrading of the UAE to ‘emerging market’ status, thus putting the nation within the range of the BRIC grouping.
“The financial robustness of the U.A.E. financial markets, specifically Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM), not only spells financial gains but also stronger economic sentiment that boosts the image of the U.A.E. as a global powerhouse that is much valued by groups like BRIC,” Mokhtar concluded.
Source : WAM News Agency for United Arab Emirates
