Landmark investment company launched from Abu Dhabi

The event was attended by Sheikhs and dignitaries.

Over 30 prominent UAE-based institutions and private investors are among the shareholders of the company.

Disclosing details about the company's investment philosophy, Abdulhamid Saeed, Chairman of Reem Investments, said: "In today's world the value of assets is not always obvious. It is often latent, and has to be unlocked through financial and human capital. And this is the core purpose of Reem Investments."

Stressing further on the objectives of the company, Mr. Saeed said: "Our investment strategy will focus on unlocking this latent value in three distinct sectors - financial, industrial and real estate. These investments will be in UAE, across the region and around the world".

He went on to add: "Whilst we will be seeking opportunities across the world, we are of the firm belief that Abu Dhabi itself represents a world of opportunity that is waiting to be tapped. Reem Investments will enable the un-locking of the Abu Dhabi opportunity for the benefit of the larger community."

Unveiling the core values of Reem Investments, Mr. Saeed said: "We are planning to build a world-class investment organization that will be driven by five clear values - foresight, innovation, excellence, prudence and trust. These values, together with an exceptional pool of human capital, will help us deliver on our core purpose."

First Gulf Bank will be the lead bank in arranging funds to develop the Reem Island project, through syndication loans, financing, and other various financial instruments.

Reem Investments also announced plans to develop 25 per cent or 1.8 million square metres of Reem Island by injecting AED20 billion. This Island will encompass low and high-rise buildings, villas, retail and commercial offices apart from community services like schools, hospitals, mosques and other civic facilities, backed by a highly sophisticated infrastructure of support systems.

Once complete, the island development project undertaken by Reem Investments is expected to house approximately 80,000 people. The company's development will have the longest waterfront view, overlooking the city of Abu Dhabi with the closest proximity to the capital.

New initiatives and investments in the financial, industrial and real estate sectors are also expected to be announced shortly.