03 December 2012
MUSCAT -- A gold trading group based in the south Indian state of Kerala, India, will open showrooms in Oman. The first outlet will be operational by February 2013.
Along with the new outlets, the group will also be offering a lucrative investment opportunity to the expatriate Indians in Oman. Dubai Gold Group's investment scheme for NRI's in Oman for expanding its network in three Gulf countries and Kerala has been noted for its lower partnership fees.
The jewellery group, which has 10 retail and wholesale jewellery outlets in Kerala, is planning to add three retail shops in Kerala and one each in Oman, Bahrain and Qatar, the company's chairman and managing director P P Mohammed Ali Haji told media persons here.
Briefing the investment scheme, which is more of an equity offer, he said Oman-based non-resident Indians (NRIs) can investment a minimum of Rs 0.5 million each or its multiples, with a maximum investment of Rs 10 million. "We will offer a fixed return of Rs 5,000 every month for a Rs 0.5 million investment, which is in addition to an annual dividend of the company at the end of the year," Mohammed Ali claimed.
The company is seeking investment for its Oman outlet, which is coming up at Ruwi High Street and three Kerala outlets which are under different stages of construction and completion at Pattambi, Valancheri and Kottakkal.
The work of Pattambi shop is 90 per cent complete, while construction of Valancheri outlet is half way through. The investment is mostly used for buying gold, and when the price of gold in international market appreciates, the investors also benefit.
He said the envisaged investment for Oman outlet is Rs 250 million, while Pattambhi and Valancheri will have a capital expenditure of Rs200 million each. "We are collaborating with Al Nasr group in Oman and our plan is to open the jewellery shop in 2013."
MUSCAT -- A gold trading group based in the south Indian state of Kerala, India, will open showrooms in Oman. The first outlet will be operational by February 2013.
Along with the new outlets, the group will also be offering a lucrative investment opportunity to the expatriate Indians in Oman. Dubai Gold Group's investment scheme for NRI's in Oman for expanding its network in three Gulf countries and Kerala has been noted for its lower partnership fees.
The jewellery group, which has 10 retail and wholesale jewellery outlets in Kerala, is planning to add three retail shops in Kerala and one each in Oman, Bahrain and Qatar, the company's chairman and managing director P P Mohammed Ali Haji told media persons here.
Briefing the investment scheme, which is more of an equity offer, he said Oman-based non-resident Indians (NRIs) can investment a minimum of Rs 0.5 million each or its multiples, with a maximum investment of Rs 10 million. "We will offer a fixed return of Rs 5,000 every month for a Rs 0.5 million investment, which is in addition to an annual dividend of the company at the end of the year," Mohammed Ali claimed.
The company is seeking investment for its Oman outlet, which is coming up at Ruwi High Street and three Kerala outlets which are under different stages of construction and completion at Pattambi, Valancheri and Kottakkal.
The work of Pattambi shop is 90 per cent complete, while construction of Valancheri outlet is half way through. The investment is mostly used for buying gold, and when the price of gold in international market appreciates, the investors also benefit.
He said the envisaged investment for Oman outlet is Rs 250 million, while Pattambhi and Valancheri will have a capital expenditure of Rs200 million each. "We are collaborating with Al Nasr group in Oman and our plan is to open the jewellery shop in 2013."
© Oman Daily Observer 2012
