Abu Dhabi fund eyes US, Europe investments

[ABU DHABI] Mubadala Real Estate & Infrastructure, a unit of Abu Dhabi's investment fund, is eyeing the US, Europe and emerging markets to invest in property as it exits developing real estate in its home market, a company executive said yesterday.

"We made a conscious shift in strategy where we don't want to be a developer and compete with property developers. We will focus more on being a real estate investor as part of a new strategy," Ali Eid Almheiri, executive director of Mubadala Real Estate, told reporters.

A new strategy that will be in place by end of the year or early next year will indicate how much capital the company will invest, he said.