Dubai-based Amara eyes Asia, Mideast investments

Sat Oct 11, 2008 9:41pm IST

DUBAI (Reuters) – Dubai-based Amara Holding said on Saturday it is looking for investment opportunities in China, India and the Middle East as growing demand for Islamic finance in those markets mitigates a global economic downturn.

The sharia-compliant investment firm, which is also based in Hong Kong, launched a roadshow on Saturday and plans to raise up to $200 million, mainly from investors in the Gulf Arab region, the firm said in a statement.

It plans to invest in real estate, utilities and agriculture among other sectors.

“The sectors we plan to invest in are the most resilient to economic downturn and in countries such as China, those are the highest growth markets,” Amara’s Chief Executive Musab Jassim told Reuters by telephone.

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