Word: nazem
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Dates: during 2000-2009
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...Arab banks are finding it harder to provide financing on their own for the often wildly ambitious real estate and development projects that had become commonplace in the region. "Every day you could open the newspaper and read about new mega-projects worth billions of dollars," says Nazem Al Kudsi, the chief executive officer for Abu Dhabi Investment Co., which is part of a sovereign wealth fund that recently bought New York's Chrysler building. "Today, there are not as many projects in the system...