Finance World Magazine| Edition: January 2024
With the beginning of the new year, this month’s edition of Finance World magazine spotlights the global position of the United Arab Emirates's commanding role as an attraction for foreign direct investments. It explores the economic landscape of the UAE, navigating through the strategic initiatives and market dynamics that have propelled the nation into the Limelight. Among the multitude of global investments, the cover story highlights the top individuals who, discerning the immense potential of the UAE market, made lucrative gains through their strategic investments, contributing significantly to the nation's economic prosperity. Furthermore, the magazine thoroughly examines the factors that position the UAE as an attractive destination for FDI in various articles, such as "Benefits of Investing in Free Zones for Foreign Investors in the UAE", "Dubai Healthcare City's Impact on Empowering Business Growth", and “The Synergistic Impact: How Foreign Investments Fuel Local Economies in the UAE”. Moreover, this edition features insightful articles curated for individuals interested in investing or establishing businesses in the UAE. Explore essential information within pieces like "Complete Guide for Investing in Dubai Real Estate from India" and "DNFBPs: Safeguarding Global Finance Against Money Laundering." These articles offer comprehensive insights, aiding readers in navigating investment opportunities and regulatory considerations within the UAE market. Keep yourself up to date with all financial sector news with our current news segments. Each person can find something unique from us. We believe our readers deserve real value from what we have to offer.
With the beginning of the new year, this month’s edition of Finance World magazine spotlights the global position of the United Arab Emirates's commanding role as an attraction for foreign direct investments. It explores the economic landscape of the UAE, navigating through the strategic initiatives and market dynamics that have propelled the nation into the Limelight.
Among the multitude of global investments, the cover story highlights the top individuals who, discerning the immense potential of the UAE market, made lucrative gains through their strategic investments, contributing significantly to the nation's economic prosperity. Furthermore, the magazine thoroughly examines the factors that position the UAE as an attractive destination for FDI in various articles, such as "Benefits of Investing in Free Zones for Foreign Investors in the UAE", "Dubai Healthcare City's Impact on Empowering Business Growth", and “The Synergistic Impact: How Foreign Investments Fuel Local Economies in the UAE”.
Moreover, this edition features insightful articles curated for individuals interested in investing or establishing businesses in the UAE. Explore essential information within pieces like "Complete Guide for Investing in Dubai Real Estate from India" and "DNFBPs: Safeguarding Global Finance Against Money Laundering." These articles offer comprehensive insights, aiding readers in navigating investment opportunities and regulatory considerations within the UAE market.
Keep yourself up to date with all financial sector news with our current news segments. Each person can find something unique from us. We believe our readers deserve real value from what we have to offer.
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Cover Story<br />
UAE’s Economic<br />
Metamorphosis:<br />
Spotlighting Foreign Investments<br />
Naguib Sawiris<br />
Chairman of Weather Investments<br />
Naguib Sawiris, an influential entrepreneur and<br />
scion of Egypt’s wealthiest family, has achieved<br />
substantial success in both the telecommunications<br />
and real estate industries. As part of a prominent family<br />
that includes his billionaire brother Nassef, Sawiris has<br />
left a permanent mark on various industries.<br />
Sawiris’s journey to success began with the telecommunications<br />
sector, where he built a formidable fortune.<br />
The pinnacle of his telecom achievements came in 2011<br />
when he orchestrated the sale of Orascom Telecom, a<br />
company he founded, to the Russian telecom firm VimpelCom<br />
(now Veon). This multibillion-dollar transaction<br />
not only showcased Sawiris’s business acumen but also<br />
added substantial value to his wealth portfolio.<br />
Currently serving as the chairman of Orascom TMT Investments,<br />
Sawiris continues to demonstrate his prowess<br />
in strategic investments. The company holds stakes in<br />
diverse assets, including an asset manager in Egypt and<br />
the Italian internet company Italiaonline. Sawiris’s ability<br />
to diversify investments reflects his astute understanding<br />
of global markets and economic trends.<br />
Through his ownership of Media Globe Holdings, Sawiris<br />
has a commanding 88% stake in Euronews, a pan-European<br />
pay TV and video news network. This venture showcases<br />
his interest in media and communication on a broader<br />
scale, aligning with the changing dynamics of information<br />
dissemination in the digital age.<br />
Venturing into the realm of real estate, Sawiris has<br />
embarked on ambitious projects that contribute to his<br />
personal wealth and also to the economic development<br />
of the regions he invests in.<br />
One notable partnership is with Abu Dhabi investment<br />
firm Q Holding for a USD 10 billion real estate project in<br />
the Ghantoot area, strategically positioned between Abu<br />
Dhabi and Dubai. The mega real estate project, spanning<br />
15 million square metres, is anticipated to be completed<br />
within the next 10-15 years. This collaboration signifies<br />
Sawiris’s commitment to playing a pivotal role in the<br />
economic growth and urban development of the UAE.<br />
Ora Developers, a company owned by Sawiris, is at the<br />
forefront of these real estate endeavours. The company<br />
recently acquired substantial land parcels, including 175<br />
feddans in New Cairo and 128 feddans in the North Coast.<br />
These acquisitions lay the foundation for upcoming real<br />
estate projects that are poised to enter the market in the<br />
coming years.<br />
The partnership with Q Holding for the development<br />
of a smart and sustainable city in the Ghantoot region<br />
underscores Sawiris’s dedication to creating communities<br />
that prioritise renewable energy and sustainability.<br />
As a strategic investor and entrepreneur, Sawiris continues<br />
to make influential contributions to various sectors,<br />
solidifying his legacy as a global business visionary.<br />
<strong>January</strong> <strong>2024</strong> www.thefinanceworld.com 39
Change language