Oil Crash Hasn't Blunted Abu Dhabi's Interest in Real Estate
- Sovereign wealth fund has strong base, Americas head says
- `U.S. has benefited from being a safe haven,' Arnold says
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The falling price of oil is having a negligible effect so far on Abu Dhabi’s interest in real estate globally, said the nation’s head of property investment in the Americas.
“I would think it would have to show up at some point, but I don’t think it really has yet,” Tom Arnold, who oversees real estate investment in the U.S. and other Western Hemisphere countries for the Abu Dhabi Investment Authority, said at an Urban Land Institute New York conference Wednesday. “ADIA was built when oil was $15 to $20 a barrel.”