""Since one year, contact with UAE and Middle Eastern firms was established in an attempt to draw their attention to the investment opportunities in Vienna. A successful foundation has been built since then with not only the WWFF making contacts of their own but also the companies themselves making initial contact (i.e Al Fahim Group, to be explained) from their side, a sign of the increasing trend that the WWFF is becoming recognised in the Arab world.
Like in any business, you are never guaranteed success from the contacts you make but it would be wrong to suggest otherwise based from what the WWFF has undergone. To backup this view, two successful trips to the UAE were completed in which two real estate companies, two investment companies and three Islamic Banks all registered genuine interest to invest in Vienna in the forthcoming future.
With the booming real estate market in Austria, the reaction of our Arab real estate partners could not have been any better. The Aspern Airfield Project has attracted most interest to this point. The notion that Islamic Banking in Central Europe is growing can be seen from the fact that our three Islamic banks partners are seeking investment having been convinced from our presentation that took place in the UAE. The two state-owned investment companies are looking at various ways to invest in Vienna, with particular interest on the real estate business and private equity market. Having said that, ADIA - Abu Dhabi’s investment catalyst whom we met - is looking to buy a large stake in the shares of the Mercedes Corporation. To help our potential investors make their final decision to investment, each received a package that reflected the topics and questions they raised during our visit to the Emirates.
Recently, Al Fahim Group – a family run business in Abu Dhabi – independently contacted the WWFF inquiring about the cost of the Aspern Airfield Project which is not only positive from the business side, but also, an indication that the WWFF has indeed made an impression in the Arab region, let alone internationally.
The current status is that the WWFF is awaiting responses from its Arab partners as they undergo an evaluation process in regards to its potential future activity in Vienna. A third visit to the UAE and possibly a new venture to another country in the Middle East or the Gulf is being considered by the WWFF.
Other successful WWFF contacts were made in relation to the Hotel Industry. In an effort to promote Vienna as business location in the hotel business, a meeting with a Four Season official was made. Detailed plans of two buildings were given which would provide much value to any Hotel corporation looking for not only expanding but investment too, provided their location (two buildings) in the city centre of Vienna. An official press release indicates that Four Seasons will be existing in Vienna.
To conclude this briefing, the International Wirtschaftsservice at the WWFF has undergone a great deal of effort to take its contacts in another direction, that being the Arab continent. The organisation understands and recognises the need to establish contact with companies who, traditionally, in the monetary sense, seek for stability, long term security, sound business and importantly great value in its investment. The WWFF is hoping to provide the support for these four pillars of Arab investment in Vienna in the near future. ""
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