The Middle East Beckons For Hong Kong's Regal Hotel Chain
Portfolio Pulse from The Bamboo Works
Regal Hotels International Holdings Ltd. and Cosmopolitan International Holdings Ltd. have signed a memorandum of cooperation with Saudi Arabia to develop up to 50 hotels in the Middle East, with an investment of up to $5 billion. The partnership aims to build 30 hotels in Saudi Arabia as part of the kingdom's efforts to diversify its economy away from oil. The companies will also establish an asset management platform to fund hotel-related projects. The Middle East is increasing investments in China and Hong Kong, with significant funds flowing into Chinese corporates from Middle Eastern states.
January 02, 2024 | 2:34 pm
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NIO Inc., a Chinese electric vehicle maker, received a $3.3 billion investment from a unit of the Abu Dhabi Investment Authority for a 20.1% stake. This investment reflects the growing financial ties between China and the Middle East.
The investment from a Middle Eastern sovereign wealth fund into NIO signifies confidence in the company and could positively influence investor sentiment in the short term, potentially driving up the stock price.
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