While the property sector in the UAE is undergoing a historic slowdown, Dubai World - the parent company of Nakheel - is diversifying into game parks. People love dangerous animals even during a downturn, it seems. This time last year the company went on a tour of African states to find opportunities. It seems now the company has invested in a game park in the Bubye Reserve Zimbabwe as well as others in South Africa.
Here's what Sultan bin Sulayem, chairman of Dubai World had to say about Africa:
UAE companies have been increasing their investments in Africa, becoming what
[ the Wall Street Journal describes here as an influential economic force in the continent ]
. At the same time, at least one UAE company has been running into resistance there.
Ruwaad
, a property developer owned by the
Dubai 9 Group
, has a project in South Africa that
[ is being threatened by thousands of Zulu tribesmen ]
who don't want to leave their land to make way for a giant theme park.