A UAE investment company launched by real estate giant Emaar Properties plans to invest $1 billion in manufacturing projects around the Gulf region, the company said, according to a Reuters report.

Emaar Industries and Investments, launched in February 2005 by Emaar Properties, has a capital of Dh250 million ($68.08 million) and seeks to invest in industries ranging from building and construction to oil and gas.
“We have $1 billion in the pipeline,” said Ahmad Khayyat, the company’s chief executive. “We will focus on companies at different stages of development and expand them regionally and maybe internationally.”
Khayyat said his company would pursue acquisitions or joint ventures and was in talks with a Chinese conglomerate to set up a facility in the region to build auto parts.
The company has already invested Dh700 million in companies in the building and construction industry, including the acquisition of three companies manufacturing home building components, Khayyat said.