What is known about the Abu Dhabi United Group, the new owners of Manchester City Football Club?
Abu Dhabi United Group for Development and Investment (ADUG) is the investment arm of the Abu Dhabi royal family. ADUG is expected to be represented on the new board by Dr Sulaiman Al Fahim (pictured below), the chief executive officer of Hydra Properties. Through Hydra Properties Al Fahim is already involved in several sports sponsorship deals, and is building a new football academy in Abu Dhabi with Inter Milan.
Hydra has signed over US$2 billion worth of projects, and has become one of the region’s fastest growing property companies, with major projects planned in Dubai and Abu Dhabi.
Dr. Sulaiman Al Fahim is known as “The Donald Trump Of Abu Dhabi.”
Abu Dhabi is the capital and second most populous city in the United Arab Emirates (UAE), after Dubai. It is also the seat of government of the emirate of Abu Dhabi. Abu Dhabi lies on a T-shaped island jutting into the Persian Gulf from the central western coast. Approximately 850,000 people live in Abu Dhabi as of 2008. One of the world’s largest producers of oil, Abu Dhabi has actively attempted to diversify its economy in recent years through investments in financial services and tourism. Abu Dhabi city is the seat of the emirate of Abu Dhabi, which is ruled by Khalifa bin Zayed Al Nahyan, – the President of the UAE.
The Abu Dhabi United Group is part of the oil rich state’s sovereign wealth fund ADIA which manages £500billion of assets and is the world’s second biggest institutional investor, behind the Bank of Japan, according to the Oxford Business Group.
Abu Dhabi manages oil reserves worth an estimated $1trillion (£555billion).
Dr Al Fahim has studied at American business schools, receiving his PhD in Real Estate Investment and an MBA in Finance and Real Estate from Kogod School of Business from the American Universtity in Washington DC.
Dr Al Fahim is ranked number 16 in the Arabian Power’s list of the 100 Most Powerful Arabs this year.
The multi billionaire plans on doing for Manchester City what Roman Abramovich has done at Chelsea. Dr Al Fahim is prepared to break transfer records and to develop a relationship between Abu Dhabi and Manchester City with the possibility of City playing friendlies or Premier League matches in Abu Dhabi.
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