'Bric brings more capital into UAE than Mena'

A leading investment firm operating in the Middle East says that there has been a significant increase in capital inflows into the UAE 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 UAE is becoming more important on a global scale, in addition to emerging as an unparalleled investment hotspot. The capital invested in the UAE from Mena region is more in the form of individual property assets, whereas the UAE’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 UAE 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 UAE 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 UAE as a global powerhouse that is much valued by groups like Bric," Mokhtar concluded.


 

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