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Abu Dhabi: Mubadala Development, Abu Dhabi government's investment arm, wants diversify its portfolio among international and local investment, an official told Gulf News on Tuesday.
The company which recently announced a $5 billion development within a joint venture with Singapore-based CapitaLand, and sold its stake in the Nigerian mobile telecommunication market to etisalat, is spreading its investment risks in the UAE and overseas.
"We are shifting some of our investments towards UAE projects and developments," Khaldoun Al Mubarak, the company's chief executive officer, said on the sidelines of a press conference launching a sustainable development exhibition titled Global City, organised by Reed Exhibitions.
"The priority is now given to utilities, infrastructure, especially water and energy projects, in the context of an increasing partnership with the private sector."
Al Mubarak also said he has "no doubt" the beleaguered US dollar will reverse course."
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