Aquila Group opens Middle East office in Abu Dhabi

Aquila Group, a Hamburg-based investment company, is expanding operations by opening a new office at Abu Dhabi in United Arab Emirates to target growth opportunities in Gulf and Middle East.

Aquila Capital Middle East will deploy capital to Middle East projects such as data centres and renewable energies, according to a company statement. The company manages assets worth 16.88 billion euros (15.4 billion euro).

Zaki Nuseibeh is the chief executive officer of Aquila Middle East. He said: "We chose Abu Dhabi because it offers us one of our best growth prospects."

Aquila's business has been granted preliminary approval by the financial centre of Abu Dhabi, ADGM. The final approval is still pending.

In recent years, global firms have been increasingly attracted to the ADGM by the increasing number of company registrations, sovereign wealth funds' appeal, and relative ease in obtaining an operating license compared to other financial centers. ($1 = 0.9222 euros) (Reporting and editing by Joe Bavier; Yousef Saba)

(source: Reuters)