News
Dubai World boosts investment in South Africa
19 March 2008
Dubai World, the investment group that represents the government of Dubai, has furthered its plans to help develop the South African tourism industry, with the acquisition of stakes in three game reserves.
The company acquired majority stakes in the Shamwari and Sanbona reserves and the Jock Safari Lodge, the African Travel and Tourism Association announced.
Dubai World chairman Sultan Ahmed bin Sulayem said: 'We see many good opportunities, and we are here for the long term.
'The company plans to invest about $1.5bn (£750m) in Africa over the next five years.'
These investments are part of the Dubai World group's strategy to get involved in a number of high-end assets around the world.
Dubai's government also owns property on the island of Comoros and in the African country of Rwanda.
MGM Mirage is involved in a joint venture with Dubai World to develop the $8bn CityCentre resort in Las Vegas, while the QE2, the former flagship of Cunard, currently resides in Dubai.
Opodo is a leading online travel company offering flights, hotels, rental cars and holidays worldwide. Search for travel deals.
The company acquired majority stakes in the Shamwari and Sanbona reserves and the Jock Safari Lodge, the African Travel and Tourism Association announced.
Dubai World chairman Sultan Ahmed bin Sulayem said: 'We see many good opportunities, and we are here for the long term.
'The company plans to invest about $1.5bn (£750m) in Africa over the next five years.'
These investments are part of the Dubai World group's strategy to get involved in a number of high-end assets around the world.
Dubai's government also owns property on the island of Comoros and in the African country of Rwanda.
MGM Mirage is involved in a joint venture with Dubai World to develop the $8bn CityCentre resort in Las Vegas, while the QE2, the former flagship of Cunard, currently resides in Dubai.
Opodo is a leading online travel company offering flights, hotels, rental cars and holidays worldwide. Search for travel deals.
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