Emaar, the UAE, and North Korea
September 6th, 2007

Again thanks to STRATFOR (link to website only; article requires a subscription), the Chairman of Emaar Properties PJSC, the Middle East’s biggest developer by market value, flew to the North Korean capital in his own plane across the West Sea, aka the Yellow Sea. As STRATFOR notes,

“…The private plane visit is the first of its kind since South and North Korea opened the West Sea route after the first inter-Korean summit in 2000. Mohamed Alabbar, who is seen as the main mover and shaker who transformed Dubai into the hub of the Middle East, is scheduled to visit a world peace center in the Pyongchon district of Pyongyang. The visit is seen as a prelude to future investment in hotels in North Korea…The United Arab Emirates, which already is on an international investment spree, has seen a potential opportunity arise in North Korea that it is moving to exploit.”

Very interesting to speculate on all the motivations behind this visit. After all, one would think there would be many other compelling investment opportunities for Emaar to explore, with less complexity/risk.


This entry was posted on Thursday, September 6th, 2007 at 5:31 pm and is filed under Emaar Properties, North Korea, UAE.  You can follow any responses to this entry through the RSS 2.0 feed.  Both comments and pings are currently closed. 

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WILDCATS AND BLACK SHEEP
Wildcats & Black Sheep is a personal interest blog dedicated to the identification and evaluation of maverick investment opportunities arising in frontier - and, what some may consider to be, “rogue” or “black sheep” - markets around the world.

Focusing primarily on The New Seven Sisters - the largely state owned petroleum companies from the emerging world that have become key players in the oil & gas industry as identified by Carola Hoyos, Chief Energy Correspondent for The Financial Times - but spanning other nascent opportunities around the globe that may hold potential in the years ahead, Wildcats & Black Sheep is a place for the adventurous to contemplate & evaluate the emerging markets of tomorrow.