UAE to Invest $13 Billion in Britain Over 5 Years

The press office of British Prime Minister Boris Johnson announced that the UK Investment Office and Abu Dhabi's Mubadala Investment Company are expected to sign an agreement to expand the sovereign investment partnership between the two countries. The statement noted that the agreement will enhance investments across the UK in life sciences, technology, infrastructure, and the transition to clean energy. The Financial Times reported that a government official familiar with the discussions indicated that the total amount committed by the UAE to invest in Britain over five years will reach approximately £10 billion ($13.85 billion). The statement also mentioned that additional investments likely to be announced include a £500 million ($692 million) investment in the UK fiber optics and internet services company "CityFibre." In March, Mubadala Investment Company signed a deal with the UK to invest £800 million ($1.107 billion) in life sciences and healthcare development projects. These deals coincided with the visit of Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed to London.