Dubai government eyes more investment in SA
By Xolile Bhengu, 10 Jan 2008 - Inet Bridge
A company appointed to find the best investments for the Dubai government is expanding its portfolio in South Africa, and has big plans for the African region.
Dubai World, holding company of South African-based Dubai World Africa Services, which owns the V&A Waterfront in Cape Town, manages and supervises businesses and projects for the United Arab Emirates’ government.
The company said it had recruited senior managers for its African office.
Shadleigh Roscoe, marketing and public relations manager at Dubai World Africa Services, said the company had played a major role in developing Dubai into the leading centre for finance and property development in the Middle East, with landmarks such as The Palm islands and The World developments.
He said: “Our rapid expansion into Africa has necessitated a fully- fledged office.
“Our two new office blocks are in The V&A Waterfrontm including the fully restored Windermere House building. A third office will be built soon.”
Roscoe said there will be significant development at The V&A Waterfront including a luxury hotel to be named the One & Only.
“We also purchased the Pearl Valley Golf Estate in the [Cape Town] winelands.
“In Africa, we have partnered Kempinski Hotels in the development of a five-star luxury hotel and casino with restaurant, nightclub and conference facilities in Djibouti on Gulf of Aden at the southern entrance to the Red Sea. It borders on Ethiopia, Eritrea, and Somalia.
Roscoe said: “We are building 50 luxury villas, and negotiating purchases of property and assets in Rwanda, the Comores, Zanzibar and other African countries.”
The company, owned by the Dubai government, aims to invest in and actively develop eco-tourism in Africa.
Negotiations are also under way for the purchase of world- renowned game reserves in Africa.
Dubai World chairman Sultan Ahmed Bin Sulayem, on a recent visit to the new offices, said the company’s expansion into Africa was the realisation of a vision to significantly improve the growth and development of the African continent.
Bin Sulayem said the company was in partnership with key stakeholders who shared the dream of building a sustainable economy for the region, and the creation of thousands of jobs for Africans while adding value to the company’s investment portfolio.
“Our offices in Cape Town are symbolic of our long term commitment to the region,” he said.
