The United Arab Emirates plans to invest an additional €15 billion in Greece through the countries’ joint investment initiative, the Abu Dhabi Media Office announced Thursday, October 22.
The announcement came during Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan’s visit to Athens, where he met Prime Minister Kyriakos Mitsotakis. It expands an initiative launched in May 2022 with an initial value of €4 billion.
At the Greece–UAE investment forum, the two leaders also witnessed the announcement of 18 memoranda of understanding, agreements and commercial partnerships valued at €12.75 billion, according to a separate media office statement.
Agreements Cover Energy, Technology and Healthcare
The forum agenda covered digital infrastructure, artificial intelligence, renewable energy, industry, transport and ports, as well as healthcare, life sciences and food security.
Business leaders, investors and officials attended the Athens event, which examined opportunities for trade and investment between the two countries. Discussions included how technology could help strengthen food supplies and make supply chains better able to withstand disruption.
Sheikh Khaled emphasized the role of businesses in developing partnerships and identifying investment opportunities. He also called for greater use of innovation and artificial intelligence to improve competitiveness.
Earlier Investment Provides a Starting Point
Addressing the forum, Mitsotakis said the earlier €4 billion target for direct investment from the UAE had already been exceeded. He cited Masdar’s investment in Greece and healthcare group PureHealth as examples.
Masdar’s acquisition of Terna Energy illustrates the scale of that earlier activity. The Abu Dhabi company announced in April 2025 that it had secured full ownership of the Greek renewable energy group after a tender offer and a process to acquire the remaining shares.
That followed its purchase of a 70 percent stake in November 2024, in a transaction that valued Terna Energy at €3.2 billion including debt. Masdar said the remaining shares were acquired at €20 each.
The acquisition gave Masdar a business with projects in Greece, Bulgaria and Poland. In its April announcement, the company described a portfolio spanning wind, solar, biomass and hydroelectric power, including the Amfilochia pumped-storage project under construction in Greece.
Greece Promotes Energy and Transport Connections
Mitsotakis identified further opportunities in renewable power, storage and liquefied natural gas. He pointed to Greece’s role in supplying northern neighbors through the Vertical Corridor.
The prime minister also promoted the India–Middle East–Europe Economic Corridor, or IMEC, presenting Greece as a European entry point and the UAE as a partner in developing its transport, energy and digital connections.
Artificial intelligence was another priority. Mitsotakis outlined potential applications in government decision-making, procurement and transparency, alongside cooperation combining Emirati investment and expertise with Greek research capabilities. He also identified agribusiness as an area where investment could improve productivity.
Mitsotakis also cited the inauguration of Greece’s Daedalus national supercomputer the previous week. He presented its computing capacity as a resource for researchers and entrepreneurs developing artificial intelligence applications.
Bilateral Talks Extend Beyond Investment
At the prime minister’s office, Sheikh Khaled and Mitsotakis held bilateral discussions before joining expanded talks with ministers and senior officials from both sides..
The discussions covered coordination between institutions to turn shared objectives into projects. Alongside economic cooperation, the agenda included infrastructure, innovation and healthcare, with both sides considering how to broaden partnerships between Greek and Emirati companies.
Sheikh Khaled pointed to completed projects under the existing joint investment initiative as evidence of progress. The leaders discussed expanding that framework and increasing exchanges of knowledge and expertise between the two countries.
Their meeting also addressed regional and international developments, particularly in the Middle East. According to the official account, both sides stressed the need for stronger international efforts to support regional security and stability, and backed dialogue and diplomatic solutions.
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