| 21 Feb 2010 |
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Emirates Fortune Group Launches Dubai Headquarters Backed by Dh735 Million Capital
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DUBAI -- Emirates Fortune Group LLC, or EFG, a newly-established holding investment company with interests in the UAE, UK, and USA, as well as North Africa, KSA, and Turkey, has recently announced the establishment of its headquarters in Dubai and the launch of its operations, stating a combined capital investment of Dh735 million from its senior partners behind it.
Starting with initial focus on development and construction in Turkey and with the help of its Turkish partners and subsidiary, EFG Turkey, EFG plans to create innovative, multi-class assets and investment opportunities globally. The company also has interests in the UAE, UK, USA, North Africa and Saudi Arabia.
"Our goal is to create a wider range of globally-sourced, higher-yielding, alternative investment opportunities for our clients," said Ghanem Al Mazroui, Chairman of EFG. "We are a tight-knit group of private investors who've established a successful business network in the UAE, and now we are ready to leverage our group investments to take on bigger opportunities."
"We see a lot of potential in the real estate market in Turkey and plan to use our GCC investment network and know-how to back up profitable projects," Mazroui added. "We view Turkey as a first-class launching pad for further real estate asset-development in other strategic locations around the world," he added.
EFG's other real estate subsidiaries include EFG Real Estate Investment and EFG Facilities Management.
The group has also recently established an international law firm, EFG Advocates, which is headquartered in Dubai and has affiliate offices in the USA, Canada, the UK, KSA, North Africa and Iran, as well as a healthcare division, EFG Healthcare, which has tie-ups with top medical centres around the world.
EFG Healthcare has already partnered with renowned American and British medical centres to bring eight top plastic surgeons from London, Beverly Hills and Hollywood to Dubai
"We would be the first to bring elite surgeons from the USA and the UK to the Middle East," said EFG Chief Executive Officer Naser Muheyeldin. "The combined capacities of these plastic surgeons offer patients the full spectrum of innovations and cutting-edge techniques available in the world today, something we are very proud of."
One of EFG's first ventures was through its education subsidiary, EFG Education, which established The International Private School, or TIPS, in Al Ain in 1990. TIPS won the award for best private school in the UAE in 2008, and from 2005 to 2009 received various awards each year for excellent performance from the Shaikh Hamdan bin Rashid Al Maktoum Foundation for Educational Excellence.
"Our business acumen has been tested abroad, and our professional relationships have developed over time and are forged in trust, which you can't put a price on. We are sure that uniting our interests under one umbrella will provide exceptional results in terms of return on investment for our clients," said Muheyeldin.
© Khaleej Times 2010
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