Mubadala: right time to invest is now

Abu Dhabi

ABU DHABI, September 6, 2016 – The current business environment presents long-term investors with opportunities, the chief executive of Abu Dhabi’s Mubadala Development Company said on Tuesday.

Speaking to Bloomberg in Abu Dhabi, Khaldoon Mubarak said, “For someone who takes a long-term view, it’s an attractive time to invest in the industry,” adding that Mubadala, too, would continue to invest.

While investors will now be pleased to find “valuations at a low and attractive range,” Mubarak nonetheless hopes and believes the industry is getting back on track. “There’s been a correction and the correction is running through its course. At some point, we will have to start seeing an improvement in the balance between supply and demand.”

At the end of June, the UAE leadership announced it would be merging Abu Dhabi’s two investment funds, the International Petroleum Investment Company (IPIC) and Mubadala. Commenting on the plans, Mubarak said that efficiency gains and further economic diversification were only parts of the story behind the merger.

“It’s also about growth, creating an industrial and investment powerhouse that has every intention to keep growing. This will be one of the largest mergers in business, but also with the ability to scale up.” According to Mubarak, the merger will be concluded no later than the first quarter of 2017.

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