Dubai investment bank allocates $1bn for Middle East, Africa construction projects

Dubai investment bank allocates $1bn for Middle East, Africa construction projects

A Dubai-based investment bank has allocated $1 billion to finance active construction projects across the Middle East and Africa.

Under a memorandum of understanding with ABiQ Business Intelligence (ABiQ), Global Islamic Financial Services Firm (GIFS) is planning to provide financing and investment for infrastructure projects, government projects and private equity deals.

The agreement will see ABiQ leverage its extensive database to assist GIFS to identify the investment and financing opportunities.

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ABiQ said it is tracking over $4 trillion worth of active project opportunities in Africa and the Middle East, including critical information such as ultimate business owners and decision-makers.

It added that it identifies the top developers, contractors and consultants in any Middle East and African market and sector, helping to minimise risk during the development period.

Emil Rademeyer, general manager of ABiQ said: "This is a key milestone in connecting upcoming projects with potential investment opportunities. It has been a long time coming and we have invested heavily in developing trusted and reliable content as well as the analytical capabilities of our platform for our subscribers over the last few years.”

Rademeyer added: "Now we can identify viable and sustainable projects