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Khaleej Times
20-05-2025
- Business
- Khaleej Times
Mubadala's assets under management grew to Dh1.2 trillion in 2024
Mubadala Investment Company, the Abu Dhabi–based sovereign investor, on Thursday reported that its assets under management grew 9.1 per cent year-on-year in 2024 to Dh1.2 trillion, with annualised returns of 10.1 per cent over five years. Capital deployed grew 33.7 per cent year-over-year to Dh119 billion. Proceeds, including monetisations, grew 10 per cent year-over-year to Dh109 billion. Mubadala's portfolio mix remained broadly consistent year-over-year: 40 per cent in private equity, 23 per cent in public markets, and 17 per cent in infrastructure and real estate. The company raised Dh30.5 billion through a range of capital market instruments, including the world's first AA-rated sovereign sukuk, a bond with the tightest credit spread ever issued in emerging markets, Mubadala's first dirham-denominated global sukuk and the first Euro-denominated 6- and 7-year corporate facilities in the EMEA region. 'This year marked two decades of disciplined financial performance as an investor central to the UAE's long-term competitiveness. Our 2024 results and portfolio growth reflect Mubadala's focused and resilient strategy, with risk-adjusted returns in sectors where we have conviction,' said Khaldoon Khalifa Al Mubarak, Managing Director and Group CEO. 'Our portfolio has been constructed to navigate market cycles and scale future-focused sectors—from AI and clean energy to life sciences, semiconductors, and advanced manufacturing—all aligned with our national priorities. A growing number of best-in-class investors also continued to partner with Mubadala across key geographies and sectors, reflecting confidence in our approach and long-term strategy. We will work to deepen these partnerships, invest in advancing innovation and create new entities in Abu Dhabi and around the world.' 'Mubadala's 10.1 per cent return over the last five years reflects our disciplined capital allocation strategy, resilient execution and consistent focus on long-term value creation,' said Carlos Obeid, Group Chief Financial Officer. 'We continue to grow and diversify across sectors and geographies, supported by a strong balance sheet, a low cost of debt, and a conservative gearing ratio of 7.8 per cent, which positions us well for future investments.' In 2024, Mubadala continued to be a key driver of innovation, economic diversification, and job creation in the UAE, reinforcing the country's position as a global hub for capital and future-focused industries. Mubadala's portfolio continued to expand across North America, Europe, and Asia, guided by long-term investment horizons and aligned with global growth trends and Abu Dhabi's economic vision. Mubadala Capital, now managing $30 billion (Dh110.2 billion), two-thirds on behalf of global investors, grew its international footprint by acquiring Fortress Investment Group and establishing a $1 billion (Dh3.6 billion) partnership with Silver Rock Financial. Mubadala's private credit portfolio grew to US$20 billion (Dh73.5 billion), supported by deep, trusted partnerships with institutions including Apollo, Ares, Carlyle, Goldman Sachs, and KKR. Since 2021 the company has not disclosed annual financial figures such as revenue or net income but has disclosed its rolling 5-year IRR and, in 2024, has begun publishing its 10-year rolling IRR which in 2024 was 8.7 per cent.
Al Etihad
11-05-2025
- Business
- Al Etihad
Khaldoon Al Mubarak: Mubadala an Emirati success story, inspiring the world
12 May 2025 02:14 HAMED RUAAB (ABU DHABI)Khaldoon Khalifa Al Mubarak, Managing Director and Group CEO of Mubadala, said that over the course of nearly 20 years, Mubadala has successfully written an Emirati success story that inspires the world. It has evolved into a global investment powerhouse with assets totalling Dh1.2 trillion, covering 11 vital future-focused sectors and operating in 88 countries an interview with Aletihad, Al Mubarak stated that Mubadala's success, from its initial projects in 2004 to the present day, reflects the wise leadership's vision and the progress of the UAE across all fronts. It represents a new chapter in the UAE's record of accomplishments and leadership regionally and globally. He emphasised that Mubadala's role extends beyond financial returns — it plays a central role in advancing economic diversification and developing national talent to lead the explained that the company was among the early investors in sectors that have proven essential to the global economy, such as clean energy, healthcare, life sciences, advanced manufacturing, semiconductors, and artificial intelligence (AI), which is now a top priority. The UAE stands today among the world's most advanced and engaged nations in AI. 20 Years of Growth Al Mubarak began by reflecting on Mubadala's beginnings, stating: 'Great achievements stem from visionary ideas, and those ideas originate from wise leadership.' He praised the solid foundations laid by the UAE's leadership and emphasised that the vision and guidance of President His Highness Sheikh Mohamed bin Zayed Al Nahyan have always charted the path for development, innovation, and recalled how Mubadala's first projects in 2004 involved only two sectors and Dh3.5 billion in assets, launched in alignment with the vision of His Highness Sheikh Mohamed bin Zayed — prioritising human development, securing a dignified life for UAE citizens, building a diversified and globally integrated economy, and enhancing competitiveness and Mubarak noted that thanks to this vision, and under the leadership of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court and Chairman of Mubadala, the investment powerhouse continues to move forward with determination to achieve its goals and added that Mubadala has, since its inception, been committed to driving economic diversification, cementing the UAE's position as a global hub for future industries, establishing leading national companies, and investing early in sectors that shape the future of the UAE and the world — such as renewable energy, space, advanced technology, semiconductors, aerospace, life sciences, healthcare, and infrastructure. It has also forged global partnerships with leading companies and investors. These achievements reflect the UAE's journey, marking significant milestones in its track record of global leadership. Investing in People Al Mubarak stressed that Mubadala's success isn't limited to generating strong financial returns but also includes its contributions to national talent development. Quoting the UAE's Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, he said: 'A country's greatest investment lies in building generations of educated and knowledgeable youth.'He explained that this philosophy remains central to Mubadala, with continued guidance from His Highness Sheikh Mansour bin Zayed, who places nurturing Emirati talent on high emphasised that Mubadala is committed to enhancing the capabilities of its national workforce — its 'true investment' — by providing opportunities for leadership development, exposure to world-class teams and expertise, and skill-building to prepare future national leaders across various sectors. Future-Focused Sectors On Mubadala's forward-looking investment strategy, Al Mubarak said the company has long focused on sectors that have now become central to the global economy, such as clean energy, healthcare, life sciences, advanced manufacturing, and semiconductors. He emphasised the belief that building capabilities and laying the foundation for innovation in these promising sectors is a long-term investment in future generations and will significantly advance the UAE's position cited examples of leading Mubadala companies — Masdar, GlobalFoundries, M42, Emirates Global Aluminium, and Strata — that exemplify the company's long-term value creation strategy aligned with national priorities and in partnership with global industry leaders. Artificial Intelligence Al Mubarak highlighted that AI is currently the most dynamic and transformative field globally, impacting every aspect of life and reshaping how we engage with the world. The UAE has been a global frontrunner in adopting AI, driven by the vision of President His Highness Sheikh Mohamed bin Zayed Al Nahyan. This has elevated the UAE's global standing in the field, with significant achievements in 2024 under the leadership of His Highness Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and National Security also noted Mubadala's role, in partnership with G42, in establishing MGX, a national leader investing in sectors where AI can drive significant economic impact, including semiconductors, infrastructure, software, tech-based services, life sciences, and AI infrastructure. Strength and Competitiveness On Mubadala's financial performance, Al Mubarak stated that beyond generating sustainable returns and forming strategic global partnerships, Mubadala has become a leading, responsible investor operating competitively in a dynamic international environment. It plays an active role in shaping the future through strategic investments across critical sectors. He affirmed that Mubadala is now stronger, more effective, and more competitive than ever, ranking among the world's best-performing sovereign wealth pointed to Mubadala's asset value reaching Dh1.2 trillion ($330 billion), with a five-year cumulative return of 10.1%. In 2024 alone, Mubadala deployed Dh119 billion ($32.5 billion) in new investments, diversifying and strengthening its portfolio and achieving a 10% year-on-year revenue increase to Dh109 billion ($30 billion). Abu Dhabi as a Global Business Hub Asked about Abu Dhabi's role as a global investment destination, Al Mubarak stated that the emirate has become a premier international business and investment hub focused on future sectors. This progress is guided by His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, who is committed to reinforcing Abu Dhabi's position as an innovation and investment Mubarak emphasised that Mubadala's global success must go hand in hand with the UAE's development journey — fostering investment, business growth, innovation, and international partnerships for the benefit of the country. This principle is central to Mubadala's investment noted that Mubadala now has a dedicated investment unit for the UAE, acting as the company's national investment arm. Its goal is to accelerate economic growth by investing in globally leading national firms, developing strategic industrial and commercial clusters, and forming partnerships with global continues to grow its portfolio in key sectors — energy, mining, aerospace, technology, healthcare, real estate, and infrastructure — while launching new initiatives to attract investment partners and build economic clusters within the UAE. Notably, Masdar — founded years ago as an early bet on a vital global sector — has made Mubadala a global leader in clean and renewable energy, with investments and partnerships across 40-plus countries on six continents, generating over 51GW of power. Leading National Companies Al Mubarak also highlighted investments in Emirates Global Aluminium and Strata, both national champions that have strengthened local manufacturing and trained skilled Emirati talent. Mubadala has also advanced the UAE's healthcare sector by establishing Cleveland Clinic Abu Dhabi and M42 — two world-class healthcare platforms. He noted Mubadala's role in enhancing pharmaceutical manufacturing and life sciences capabilities, as well as bolstering the security of medicine referenced Mubadala's role through the Hub71 platform in building a global tech ecosystem connecting startups, investors, entrepreneurs, and government entities. Mubadala is also showcasing its leading national companies through platforms like the 'Make it in the Emirates' Forum, while the Abu Dhabi Investment Council — its indirect investment arm — continues to boost investment in funds and co-investment vehicles with top global asset managers, helping diversify Mubadala's portfolio. Confidence in the Future On future prospects amid global economic uncertainty, Al Mubarak acknowledged the fast-paced, complex transformations affecting the world. Despite the resulting ambiguity in global investment landscapes, he expressed confidence in Mubadala's ability to overcome challenges and realise its reaffirmed the company's long-term investment mindset and sees strong growth potential across various sectors and geographies. Mubadala will continue pursuing high-value opportunities, maintaining its commitment to strategic consistency. What has been achieved so far is only a fraction of the company's ambition, Al Mubarak said. With the guidance of the UAE's leadership, support from its board, global partners, and dedicated team, Mubadala will continue shaping the next chapter in its pioneering national journey, he concluded.
Al Etihad
08-05-2025
- Business
- Al Etihad
Mubadala Investment Company reports 2024 financial results
8 May 2025 12:42 ABU DHABI (ALETIHAD)Mubadala Investment Company, the Abu Dhabi–based sovereign investor, on Thursday reported strong performance in its 2024 financial results, reinforcing the focus and resilience of its strategy. Assets under management grew 9.1 percent year-on-year to Dh1.2 trillion, with annualised returns of 10.1 percent over five Khalifa Al Mubarak, Managing Director and Group CEO, said, "This year marked two decades of disciplined financial performance as an investor central to the UAE's long-term competitiveness. Our 2024 results and portfolio growth reflect Mubadala's focused and resilient strategy, with risk-adjusted returns in sectors where we have conviction.""Our portfolio has been constructed to navigate market cycles and scale future-focused sectors—from AI and clean energy to life sciences, semiconductors, and advanced manufacturing—all aligned with our national priorities," he Mubarak further commented, 'A highlight of 2024 was the creation of MGX by the Artificial Intelligence and Advanced Technology Council - the new AI investment champion for Abu Dhabi - with G42 and Mubadala as co-founding partners," Al Mubarak said."A growing number of best-in-class investors also continued to partner with Mubadala across key geographies and sectors, reflecting confidence in our approach and long-term strategy. We will work to deepen these partnerships, invest in advancing innovation, and create new entities in Abu Dhabi and around the world," the top official financial highlights from Mubadala's 2024 results underscored its continued success as a trusted guardian of the nation's company delivered a five-year rate of return of 10.1 percent. Assets under management grew by 9.1 percent year-over-year to Dh1.2 trillion, while capital deployed increased by 33.7 percent to Dh119 billion. Proceeds, including monetisations, rose by 10 percent year-over-year to Dh109 portfolio mix remained broadly consistent year-over-year, with 40 percent in private equity, 23 percent in public markets, and 17 percent in infrastructure and real raised Dh30.5 billion through a range of capital market instruments. These included the world's first AA-rated sovereign Sukuk, a bond with the tightest credit spread ever issued in emerging markets, Mubadala's first dirham-denominated global Sukuk, and the first Euro-denominated 6- and 7-year corporate facilities in the EMEA region."Mubadala's 10.1 percent return over the last five years reflects our disciplined capital allocation strategy, resilient execution and consistent focus on long-term value creation," said Carlos Obeid, Group Chief Financial Officer."We continue to grow and diversify across sectors and geographies, supported by a strong balance sheet, a low cost of debt, and a conservative gearing ratio of 7.8 percent, which positions us well for future investments," Obeid added. Mubadala focuses on long-term value creation and, in line with its sovereign investment mandate, reports multi-year performance metrics that reflect the nature of its strategy. Since 2021, the company has not disclosed annual financial figures such as revenue or net income but has disclosed its rolling 5-year IRR, and has begun publishing its 10-year rolling IRR, which was 8.7 percent in 2024 .
The National
02-05-2025
- Business
- The National
Best photos of May 2: Sandstorm in Syria to Papal conclave preparations
Director: S Sashikanth Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan Star rating: 2/5 Jeff Buckley: From Hallelujah To The Last Goodbye By Dave Lory with Jim Irvin Individuals must register on UAE Drone app or website using their UAE Pass Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number Upload the training certificate from a centre accredited by the GCAA Submit their request Fly it within visual line of sight Never over populated areas Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed Users must avoid flying over restricted areas listed on the UAE Drone app Only fly the drone during the day, and never at night Should have a live feed of the drone flight Drones must weigh 5 kg or less Visit for more information Name: HyperSpace Started: 2020 Founders: Alexander Heller, Rama Allen and Desi Gonzalez Based: Dubai, UAE Sector: Entertainment Number of staff: 210 Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners Creator: Mike White Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell Rating: 4.5/5 Engine: 3.0-litre six-cylinder turbo Power: 398hp from 5,250rpm Torque: 580Nm at 1,900-4,800rpm Transmission: Eight-speed auto Fuel economy, combined: 6.5L/100km On sale: December Price: From Dh330,000 (estimate) • Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It's e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps. • Business Bay's Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile. • Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online 'easier, faster and smoother' via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale. • 2checkout's 'all-in-one payment gateway and merchant account' accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users. • PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone's signed up. Costs from 2.9 per cent plus Dh1.2 per transaction. GOLF'S RAHMBO - 5 wins in 22 months as pro - Three wins in past 10 starts - 45 pro starts worldwide: 5 wins, 17 top 5s - Ranked 551th in world on debut, now No 4 (was No 2 earlier this year) - 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth) Document everything immediately; including dates, times, locations and witnesses Seek professional advice from a legal expert You can report an incident to HR or an immediate supervisor You can use the Ministry of Human Resources and Emiratisation's dedicated hotline In criminal cases, you can contact the police for additional support Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union. It was founded in 2018 and originally called the Brexit Party. Many of its members previously belonged to UKIP or the mainstream Conservatives. After Brexit took place, the party focused on the reformation of British democracy. Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024. The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court. Moment of the day Given the problems Sri Lanka have had in recent times, it was apt the winning catch was taken by Dinesh Chandimal. He is one of seven different captains Sri Lanka have had in just the past two years. He leads in understated fashion, but by example. His century in the first innings of this series set the shock win in motion. Stat of the day This was the ninth Test Pakistan have lost in their past 11 matches, a run that started when they lost the final match of their three-Test series against West Indies in Sharjah last year. They have not drawn a match in almost two years and 19 matches, since they were held by England at the Zayed Cricket Stadium in Abu Dhabi in 2015. The verdict Mickey Arthur basically acknowledged he had erred by basing Pakistan's gameplan around three seam bowlers and asking for pitches with plenty of grass in Abu Dhabi and Sharjah. Why would Pakistan want to change the method that has treated them so well on these grounds in the past 10 years? It is unlikely Misbah-ul-Haq would have made the same mistake. Ministry of InteriorMinistry of DefenceGeneral Intelligence DirectorateAir Force Intelligence AgencyPolitical Security DirectorateSyrian National Security BureauMilitary Intelligence DirectorateArmy Supply BureauGeneral Organisation of Radio and TVAl Watan newspaperCham Press TV Sama TV This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country's most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home. In Raed Mozafar Abu Al Saoud, Minister of Water and Irrigation Dr Bassam Samir Al Talhouni, Minister of Justice Majd Mohamed Shoueikeh, State Minister of Development of Foundation Performance Azmi Mahmud Mohafaza, Minister of Education and Minister of Higher Education and Scientific Research Falah Abdalla Al Ammoush, Minister of Public Works and Housing Basma Moussa Ishakat, Minister of Social Development Dr Ghazi Monawar Al Zein, Minister of Health Ibrahim Sobhi Alshahahede, Minister of Agriculture and Minister of Environment Dr Mohamed Suleiman Aburamman, Minister of Culture and Minister of Youth Out Dr Adel Issa Al Tawissi, Minister of High Education and Scientific Research Hala Noaman 'Basiso Lattouf', Minister of Social Development Dr Mahmud Yassin Al Sheyab, Minister of Health Yahya Moussa Kasbi, Minister of Public Works and Housing Nayef Hamidi Al Fayez, Minister of Environment Majd Mohamed Shoueika, Minister of Public Sector Development Khalid Moussa Al Huneifat, Minister of Agriculture Dr Awad Abu Jarad Al Mushakiba, Minister of Justice Mounir Moussa Ouwais, Minister of Water and Agriculture Dr Azmi Mahmud Mohafaza, Minister of Education Mokarram Mustafa Al Kaysi, Minister of Youth Basma Mohamed Al Nousour, Minister of Culture Favourite films: Casablanca and Lawrence of Arabia Favourite books: Start with Why by Simon Sinek and Good to be Great by Jim Collins Favourite dish: Grilled fish Inspiration: Sheikh Zayed's visionary leadership taught me to embrace new challenges. The number of Chinese people living in Dubai: An estimated 200,000 Number of Chinese people in International City: Almost 50,000 Daily visitors to Dragon Mart in 2018/19: 120,000 Daily visitors to Dragon Mart in 2010: 20,000 Percentage increase in visitors in eight years: 500 per cent Engine: 6.0-litre, twin-turbocharged W12 Transmission: eight-speed automatic Power: 626bhp Torque: 900Nm Price: Dh1,050,000 On sale: now Director: Jared Hess Starring: Jack Black, Jennifer Coolidge, Jason Momoa Rating: 3/5 Updated: May 02, 2025, 10:27 AM
The National
29-04-2025
- Business
- The National
ATM 2025: Sharjah banks on strategic location to boost tourism as it welcomes 13% more guests in Q1
Sharjah's heritage-orientated tourism sector is banking on the boost that will result from the several infrastructure and campaign strategies designed to attract more visitors, reinforcing one of the UAE's economic pillars. The emirate welcomed about 486,000 guests in the first quarter of 2025, a 13 per cent annual increase, Khalid Al Midfa, chairman of the Sharjah Commerce and Tourism Development Authority, told The National at the Arabian Travel Market exhibition in Dubai. Sharjah is aiming to increase visitor numbers by up to 15 per cent this year, underpinned by its focus on cultural, adventure and eco-tourism "and these are all of where the majority of our products are built", he said. "Some of [the infrastructure developments] will be ready this year and some next year and the year after ... the other area is the marketing and promotions, creating the right exposure to promote the destination across different channels, and this is really important." Mr Al Midfa declined to provide details on the cost of the projects but said the government is spending "billions and billions", especially on infrastructure development and road networks. "We have seven destinations [emirates] within the country and they are all very close by proximity," Mr Al Midfa said. "You don't need to fly or drive very long to get from one destination to the other. "And what you experience is something completely different between one destination and the other ... you get all of this variety." Last year, work started on the Dh1.2 billion ($326.7 million) terminal expansion at Sharjah International Airport as the emirate seeks to increase its annual capacity to 20 million by 2027. Spread across 190,000 square metres, the project is the largest phase of expansion work being undertaken and is expected to be completed in 2027. The makeover is expected to help increase the attraction of the hospitality sector, given Sharjah's location between Dubai and Abu Dhabi, and the rest of the UAE. "Eventually, Dubai International Airport [operations] will move to Al Maktoum International Airport in Jebel Ali, and when that happens Sharjah will be the core airport in the Northern Emirates," Amit Arora, chief commercial officer of developer Arada, told The National. "And when people come to Sharjah and these aeroplanes are linking the subcontinent to Europe via the hub in Sharjah, they're going to want to do [multiple] nights and check out its hospitality." Sharjah's growing real estate portfolio is being positioned to boost the emirate's appeal. At ATM, Arada introduced the mid-scale Nest Hotel, which will be developed within the $9.53 billion Aljada megaproject. The Nest is the first completed property in Arada's 1,031-key hotel and serviced apartment portfolio in the lifestyle community and is scheduled to open in October. The property is part of Arada's growing pipeline. The company has 1,680 rooms under development in various stages of completion and has plans to launch hotels each year, Mr Arora said. "Every year starting in 2025, we're going to put a hotel in the market, from four and five stars to ultra luxury." In February, Arada sold out its new $1.52 billion Masaar 2 building in three hours amid strong demand in the real estate market, making it the company's fastest-selling off-plan project in the emirate. It was another reflection of the UAE's real estate market, that has been booming in recent years on the back of strong investor demand and residency initiatives by the government. Arada is also aiming to cater to the student accommodation segment through the Nest brand, which Mr Arora said continues to grow amid an influx of students from around the region. "Outside of the UAE and other markets, we would potentially be able to scale the brand ... we're already getting enquiries from other parts of the GCC to bring Nest to locations where there is demand for student accommodation," he added.
