Dubai – Mubasher: Gulf Capital Company announced on Tuesday that it has invested over AED 500 million to date in technology and ecommerce across GCC companies.
“The technology scene is rapidly evolving in the GCC, and we are seeing the increase in number of regional players that are becoming market leaders on both the regional and global fronts,” Karim El Solh, the CEO of Gulf Capital, said.
Gulf Capital had invested in accommodation wholesaler Destination of the Word, e-commerce platform Sporter.com, and auction site Emirates Auction.
The digital economy contributed $2.3 trillion to the GDP in the G-20 in 2010 and is estimated at more than $4 trillion in 2016, while growing at 10% a year, according to Boston Consulting Group (BCG).
“It is expected to have a number of success stories to emanate from the region, many represented here at this year’s Step Conference,” El Solh added.
