Emirates Investment Group announced its plan during the official opening of an investment office -- Emirates Tarian -- in the city-state which company officials said would serve as their base to explore other parts of the region.

Company officials said the Singapore project will be in the hotel and leisure sector but would not give further details as discussions were underway. The said they hope to conclude the talks within months.

"We are using Singapore as the hub or platform on which we can explore investment opportunities in the whole of Asia," said Sheikh Tariq bin Faisal Al Qassimi, Emirates Investments Group chairman.

Sheikh Tariq, a member of the ruling family of the Emirate of Sharjah in the UAE, mentioned China and Indonesia, the world's most populous Muslim nation, as some of the countries they would explore business opportunities.

He said investments would focus on the hotel and leisure sector, financial services and listed equities.

While returns from its investments in the UAE are bigger, the Emirates Investment Group is expanding into Asia because it wants to diversify its portfolio.