19 March 2008
Dubai: Saffar, a regional financial services firm, recently acquired a majority stake in John Charcol Dubai, an independent mortgage broker.
The agreement, which was signed earlier this month, will see Saffar take a 60 per cent majority stake in the company, with the rest being retained by the company founders.
The deal is part of Saffar's strategy to pursue business opportunities in the real estate and home financing market.
"John Charcol is a leading player in the mortgage brokerage industry. With John Charcol Dubai, we hope to leverage the wide range of opportunities available in the regional property finance market," said Mishaal Al Usaimi, chief executive officer of Saffar."
"We are confident that the unrivalled expertise of John Charcol, combined with Saffar's regional knowledge, will provide the bedrock for the development of John Charcol Dubai as the leading regional independent mortgage brokerage. We are extremely proud to be a part of growing this dynamic company on both a local and regional level."
Established in 1974, John Charcol is widely regarded as the UK's leading independent mortgage adviser.
By Staff Reporter
Gulf News 2008. All rights reserved.
