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Ministry of Economy Reports AED 125 Billion in Private Equity Capital |
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The Ministry of Economy has released figures showing that 131 private equity firms were operating in the UAE at year-end 2009, with capital of AED 126 billion, (AED 116 billion as paid-up capital). According to the report, six companies have increased their capital in 2009 to reach an amount of 599 million AED representing 25% increments. A total of sixty-nine companies with paid-up capital of AED 19 billion were operating across a number of sectors in Abu Dhabi, while Dubai registered 47 companies with paid-up capital of AED 97 billion. In Sharjah, the report recognized seven companies with a paid-up capital of AED 1.3 billion, one company in Ajman operating in the real estate industry with a paid-up capital of AED 35 million, three in Ras Al Khaimah with a paid-up capital of AED 14 million, and finally, four companies in Al Fujairah with paid-up capital of AED 39 million. Hamid Bin Butti Al Muhairi, Executive Director of the Commercial Affairs Sector at the Ministry of Economy, said: "These figures are both highly encouraging and highly valuable to the investors, the industries and the individuals who live and work in the UAE. Once again, we can see that there is enormous support across the country and the private sector is playing a vital role in that. "There is a lot of confidence in the UAE economy and each time we see these results, it becomes clear that trend is growing", he added. |
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