Investment fund in Dubai is hungry for profits Read more: http://www.thenational.ae
A Dubai-based investment group is putting its money where its mouth is, creating the country’s first private fund focused on food and beverages. The move reflects the stability of demand for staples amid regional turmoil – a stability that home-grown companies have seized on. Al Mal Capital said it was raising Dh60 million for the new fund, which is to invest in casual dining, bakeries, food processing and catering opportunities across the Middle East. Al Mal’s fund plans to target the Arabian Gulf countries first, where there is high population growth and disposable income. In the Middle East, population growth is at 3.1 per cent on an annual basis, according to IMF estimates, while GDP growth is at 3.7 per cent.