UAE’s Alabbar plans $1 bln technology fund

02/08/2016 Argaam

UAE’s businessman Mohamed Alabbar is planning to lead an Arab consortium to establish the Arab world’s largest technology fund, Al-Arabiya TV reported, citing unnamed sources.

 

The fund aims to raise $1 billion which will be allocated for technological and entrepreneurship projects.

 

The sources added that the new fund will explore investment opportunities in promising sectors, including retail, transport, media, etc.

 

The new fund will be open to all Arab entrepreneurs.

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