Joint investments between Greece and the United Arab Emirates (UAE) have surpassed €4 billion, while bilateral non-oil trade has grown by 80% over the past five years. UAE Minister of Investment Mohamed Hassan Alsuwaidi tells Kathimerini where he sees the greatest potential for further cooperation, from digital infrastructure and shipping to renewable energy. He also discusses the economic impact of the recent regional conflict on the UAE.

What opportunities does the Ministry see for strengthening UAE-Greece investment ties in real estate and hospitality, and how can it help facilitate investment partnerships in these sectors? Is the Athens Riviera of particular interest to UAE investors?

Real estate and hospitality present opportunities to deepen the UAE-Greece investment partnership. Greece’s established tourism sector and urban development opportunities offer scope for cooperation across hospitality, mixed-use developments and supporting infrastructure. UAE investors and developers bring a proven track record in these areas, creating opportunities to combine capital and development expertise with local knowledge through partnerships that deliver long-term value.

We have already begun exploring this potential by taking part in the Athens Riviera Summit last year. As an annual forum, the summit provides an opportunity to sustain momentum, deepen engagement between governments and investors, and advance discussions toward practical investment partnerships.

There is a strong foundation of bilateral investment cooperation to build on. In 2022, ADQ, now consolidated under L’IMAD Holding Company, signed an investment cooperation agreement with the Hellenic Development Bank and the Hellenic Development Bank of Investments. The initiative has since exceeded its initial €4 billion investment goal.

We also see this as a two-way partnership. The Ministry supports investors from initial interest through establishment, reinvestment and expansion in the UAE. We bring together capabilities across the seven emirates to meet investors’ needs, simplify the investment journey and accelerate capital deployment.

Alongside this, we work to maintain a predictable, transparent and internationally competitive investment environment, giving Greek businesses, including those in real estate and hospitality, confidence to establish operations and pursue further growth from the UAE.

Beyond existing projects, which sectors offer the greatest potential for deeper investment cooperation between the UAE and Greece?

We see potential to expand investment cooperation with Greece across digital technologies, advanced manufacturing, maritime industries and financial services. These are areas where our countries’ complementary strengths can support new businesses and opportunities for regional growth. They represent avenues for further cooperation, with individual investment decisions guided by each sovereign wealth fund’s mandate and commercial assessment.

Technology offers a clear example. The AI and technology cooperation agreement signed in May 2026 provides a foundation for joint projects in digital infrastructure, AI applications and innovation. It creates scope to bring together capital and expertise in support of the digital transition in both economies.

Greece’s maritime strengths also complement the UAE’s experience in logistics and international connectivity, with the Greek fleet accounting for more than 19% of global shipping tonnage.

Financial services offer another avenue for deeper cooperation, supported by the strength of the UAE’s international financial centers. In the first half of 2026, DIFC surpassed 10,000 active companies, up 30% year-on-year, while ADGM’s assets under management grew 54%.

By strengthening connections between Greece’s financial ecosystem and these centers, we can help mobilize capital, facilitate cross-border investment and support businesses seeking to expand into wider markets.

What has been the impact of the recent regional conflict on the UAE – on the economy and the country’s brand? Has its image as a safe, carefree destination been damaged?

No economy is immune to external disruptions, and the UAE is no exception. What matters is how a country responds and its ability to take decisive action, adapt and move forward. While the disruption has tested sectors such as aviation and tourism, the UAE has responded decisively, maintained business continuity and remained connected to global markets. It is this ability to respond effectively and continue delivering that underpins long-term confidence in the UAE.

The UAE’s economic fundamentals remain strong, supported by decades of diversification, strong institutions and investment in critical infrastructure. Non-oil activities accounted for 79.2% of GDP in the first half of 2026, while non-oil foreign trade grew 13.1% to AED1.94 trillion. This diversified economic base gives us greater flexibility to adapt to changing conditions, sustain economic activity and remain connected to global markets. International investors continue to make long-term commitments to the country, reinforcing confidence in the UAE’s long-term prospects.

Importantly, this resilience has also been demonstrated through decisive government action. Dubai Customs’ Green Corridor facilitated over 203,000 containers carrying goods worth AED33.9 billion between March and June 2026, helping maintain supply-chain continuity. The Central Bank introduced measures to support liquidity and financing, with the IMF recognizing the UAE’s timely policy response. These are practical interventions designed to help businesses navigate disruption and maintain economic continuity.

Ultimately, investor confidence is reflected in the decisions businesses continue to make. Since March, Bain Capital and EQT have opened offices in Abu Dhabi, while Capital Group secured regulatory approval in October. These are tangible signs that international institutions continue to commit resources and expand their presence in the UAE, even amid regional uncertainty.

How does the Ministry view Greece’s role as a gateway to European markets, and what opportunities could this create for stronger UAE-Greece investment ties?

Greece is an important partner in the UAE’s ambition to strengthen connectivity between markets. Its strategic location, maritime expertise and access to European markets complement the UAE’s logistics infrastructure, international connectivity and investment capabilities. Together, these strengths create opportunities to develop trade corridors, strengthen supply chains and facilitate investment flows between Europe, the Middle East and Asia.

This partnership is already translating into significant investment and commercial activity. Joint investments have exceeded €4 billion. Bilateral non-oil trade has grown 80% over five years, while more than 120 Greek companies established operations in the UAE in the year to July 2026. These are tangible signs of a partnership growing in both directions.

Looking ahead, we see considerable potential to build on these foundations. Energy and storage, maritime logistics, infrastructure and emerging technologies are natural areas for deeper cooperation. Our growing cooperation in AI and technology provides another opportunity to expand the partnership into new industries with businesses increasingly recognizing the opportunities available across our two markets. At the second round of political consultations in Athens in July, our governments prioritized advancing bilateral projects of strategic importance, and the UAE welcomed Greece’s support as the UAE and the EU work toward a Comprehensive Economic Partnership Agreement.

The priority now is to translate this strong strategic relationship into commercially viable projects. Both governments have a role in identifying opportunities, connecting investors with credible partners and addressing barriers to implementation.

Investopia Athens is precisely the kind of platform that can bring governments, investors and businesses together to advance these discussions and create lasting value for both economies.

What are the next steps for UAE-Greece collaboration in digital connectivity, data centers, and submarine data cables?

Digital infrastructure is a natural area for deeper cooperation. Greece’s strategic location and connectivity give it an important role linking Europe with the Eastern Mediterranean, while the UAE brings significant investment capabilities and experience in developing digital infrastructure, creating opportunities to strengthen digital connectivity between Europe, the Middle East and Asia.

We already have a strong framework to build on. In 2024, the UAE Ministry of Investment and Greece’s Ministry of Digital Governance signed an agreement to advance investment in digital infrastructure, with a particular focus on data-center projects in Greece with potential capacity of up to 500 MW.

Our focus now should be on turning that framework into investable opportunities. That includes data centers, digital connectivity and the infrastructure required to support growing demand for cloud computing, AI and other emerging technologies.

Moving from agreement to implementation requires more than capital alone. Reliable infrastructure, predictable regulation and credible local partners are critical. Our role is to help identify strategic opportunities, connect the right partners and address barriers to implementation.

Are UAE companies planning new investments in Greece’s renewable sector, such as offshore wind or solar projects? and how can the UAE and Greece deepen their cooperation to establish Greece as a premier energy transit hub for Europe?

Energy is already a strong example of the UAE-Greece investment partnership. Masdar’s acquisition of Terna Energy in 2025 reflects our shared commitment to advancing the energy transition, bringing together Greek expertise and UAE capital to support growth in Greece and the wider region.

This partnership is already translating into further investment activity. In April 2026, Terna Energy outlined its expanded role as Masdar’s development platform in Eastern Europe, advancing opportunities across renewable generation, energy storage and hybrid systems. The company is targeting 6 GW of operational capacity by 2030, with the 680 MW Amfilochia pumped-storage project among the major projects in its portfolio.

Offshore wind offers another avenue for growth. Terna Energy is developing the 45 MW Aegeanfloat floating offshore wind pilot in cooperation with Saitec Offshore Technologies. The project was recently selected for support under the European Commission’s Innovation Fund, providing a further example of how this partnership can support new energy technologies.

The priority now is to build on this momentum and develop the next generation of commercially viable projects. Credible local partners, regulatory certainty and opportunities to scale will remain important for UAE investors. Both governments can support this by identifying investment opportunities, facilitating partnerships and addressing barriers to implementation.

Source: Ekathimerini.com