Manchester City’s Dhabi Deal With Hydra Properties Al-Fahim
Move over Roman Abramovich, there’s a new billionaire baron in football town, Manchester City now looks set to become one of the Premierships richest clubs striking a £210m deal with Abu Dhabi United Group for Development and Investment (ABUG) whose stake in the club will be represented by Hydra Properties CEO Dr Sulaiman Al Fahim, known locally as the Gulf’s answer to Donald Trump as host of the highly successful Hydra Executives, an Apprentice-style real estate-based reality tv series to be screened exclusively on Real Estate TV from on Sky Channel 262 later this year.
Hydra Properties is building a number of skyscrapers in Dubai and is involved in the highly anticipated Al- Reem, a man-made island project in Abu Dhabi designed to compete with Dubai Palm Island projects and launched Hydra Heights Towers earlier this year in March.
Having been purchased from Thailand’s former Prime Minister, billionaire Thaksin Shinawatra, Man City put its new slush fund to good use nearly purchasing not only Spur’s striker Berbatov but securing Brazilian striker Robinho in last-minute record breaking deals of $58 million and £34.2 million respectively before the transfer window of opportunity closed for this season.
“As the richest of the 7 emirates within the UAE, this deal is the icing on the cake for Manchester City” commented Chintan Mahida, on the clubs acquisition news, the overseas property blogger, went on to say, “This deal demonstrates the growing presence of the Gulf nations on the world stage, ABUG hopes to emulate the success Emirates have enjoyed at Arsenal with the goal of not only making Manchester City the biggest club in the premiership but also raising the profile of the Abu Dhabi emirate globally due to the international following the English Premier League enjoys. Only a good thing from an overseas property investors perspective.”
Negotiations were completed Sunday night at the opulent 7 star Emirates Palace Hotel on Abu City’s Corniche and where Justin Timberlake recently completed his FutureSex/LoveShow last December.
Abu Dhabi city is hot on the heels of its neighbouring emirate Dubai, with a host of jaw-dropping real estate development projects which including:
- Saadiyat Island (”Island of Happiness”)
- Al Lulu Island
- Reem Island
- Al Raha
- Abu Dhabi Grand Prix circuit on Yas Island
- Masdar City
- New York University Abu Dhabi Campus
- Ferrari World
- Cleveland Clinic
In its pursuit of becoming one of the world’s new culture capitals the “Cultural hub” of the Middle East, Abu Dhabi has planned that its own Louvre museum would be completed by 2012 and a Frank Gehry designed “Guggenheim Abu Dhabi” museum is expected to complete in 2011.
As they say in the world of football, Abu Dhabi real estate looks on top form if its recent deals are anything to go by.
J Walton said,
September 2, 2008 @ 12:13 pm
More money flooding into the Premierleague, when will it stop?
Are we setting ourselves up for a fall. Big foreign money could kill the game and it will become a super league where only money matters.
D Chamberes said,
September 2, 2008 @ 12:24 pm
Looking forward to Hydra Executives hopefully it should be a more exciting alternative to Property Ladder.
T Sharp said,
September 2, 2008 @ 12:36 pm
Well with money comes power and with power it seems comes the premiership. Is it just going to turn into a giant marketing platform for big business, we might as well call it the world premiership not the English Premiership?
febo said,
September 5, 2008 @ 7:43 pm
good info..
my be manchester city will be win..
because have much money..
Iqbal Oojageer said,
September 8, 2008 @ 11:35 am
Dr Sulaiman Al Fahim
Congratulations to you as the new big boss of Manchester City. Here comes an unexpected revolution in English football, a new galaxy bound to shed light on a sky whose vision is gold.
City can become the biggest club and a new reference for world quality football. You can only get the top best out of the very best. As a seasoned Sports Journalist, I can foresee the birth of a dream passion for soccer. Because the game and other clubs can only become more competitive with your bold move. No one will want to miss the train and lag behind.