Hong Kong, Abu Dhabi exchanges strengthen market connections
In a bid to bring two financial hubs closer together, Hong Kong’s HKEX stock market and Abu Dhabi’s ADX signed an agreement to expand cooperation and strengthen links.
The deal includes potential initiatives in exchange-traded funds, ESG-focused products and cross-listings, Reuters reports.
The Hong Kong exchange last year granted the ADX and Dubai Financial Market the status of Recognized Stock Exchanges and is also preparing to open a representative office in Saudi Arabia.
HKEX CEO Bonnie Y. Chan said the partnership seeks to “unlock new investment opportunities, strengthen market infrastructure, and meet the evolving needs of global issuers and investors.”
Mubadala-backed Aldar inks deal with DP World for Dubai logistics park
Mubadala-backed Aldar Properties has signed an agreement with DP World to develop a 1.55 million-square-foot logistics park as Abu Dhabi’s biggest real estate developer looks to expand in Dubai and respond to e-commerce driven demand for warehousing.
The project at National Industries park in the Jebel Ali neighborhood of Dubai gives Aldar access to develop and lease assets in a strategic location between Dubai’s major port and Al Maktoum International Airport.
The deal comes at a time when the UAE is jockeying for position in the global supply chain and to play a role in the region’s future food security.
The agreement with DP World is part of a $270 million investment Aldar announced in January to expand its logistics real estate business in Abu Dhabi and Dubai.
