Currents

Location, location, location.

The old mantra is often repeated when talking about Vancouver’s hot real estate market. But it is also a pertinent factor in foreign investment - which is a good thing for local businesses.

Sultan Ahmed bin Sulayem’s Dubai World company is set to invest hundreds of millions of dollars in Lower Mainland products and businesses (The details are here). This comes after the Middle East-based company already spent $200 million on Vancouver’s port.

The reasons were simple. “We are both on the sea. Commerce is very important to us, as it is here. You have a very large Asian community here, same as Dubai.”

Also, the USA is reluctant to have any of its ports overseen by Arab-based corporations out of a (probably overblown) fear of undermining its strategic self-interest.

Fair enough. We’ll take the cash.

Thanks, Dubai. It’s a pleasure doing business with you.

tags: Dubai World, foreign investment, Vancouver Port Authority

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