According to a report this morning from Reuters, the Abu Dhabi royal intent on investing in Pakistan has reversed his course in a statement to the news service. The $45 billion Sheikh Nahayan bin Mubarak al-Nahayan projected investing in the country, is now a lost deal if the reports are correct.
The Sun & Sky Towers, Abu Dhabi's tallest construction. Image courtesy of MarceloDubai
Less than two weeks after the principals penned a deal that would breathe life into Pakistan's economy has now been scrapped by Abu Dhabi Group, the investment firm Sheikh Nahayan chairs. Reuters was not given any reason for the reversal of fortunes, but what was supposed to be the biggest ever outside investment in Pakistan is apparently a 'no-go'.
In the original story Abu Dhabi Contracting reportedly signed a non-binding preliminary agreement to cooperate with Bahria Town Pakistan. Terms of the deal were not specific, but it was originally reported the construction in Pakistan would include the world's tallest building. No further world on Sheikh Nahayan's statements on the failed deal are forthcoming, but the Sheikh has a portfolio includes investments in Africa, Morocco and in the agribusiness worldwide.
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