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Dubai group Najibi to invest in Australia tourism projects

DUBAI, May 30, 2016

Diversified Dubai-based business conglomerate Najibi has opened its new investment and development company Sanad Capital on Australia’s Sunshine Coast.

Sanad Capital will serve as an investment springboard for a diverse range of local projects – particularly community-based, family-friendly and active-lifestyle destinations, said a statement from the company.

Najibi’s latest foray into Australia through the establishment of Sanad Capital came after a recent decision to diversify the company’s business operations and assets across industries and beyond GCC boundaries, it added.

Talal Y. Najibi, the chief executive of Najibi, said the Sunshine Coast was the perfect location for the company to launch its new venture.

"This move is a part of our overall diversification and we believe that the time is perfect to invest more in Australia," noted Najibi.

"One of our primary objectives is to explore the investment potential by developing a host of eco-friendly, community-centric projects. Currently, the Sunshine Coast attracts nine million tourists per annum with an average stay of 13.4 nights," he added.

Sanad Capital founder and CEO Bradley P. Sutherland said it was looking to scale up long-term progressive and economic growth within the Sunshine Coast by delivering special projects.

Incidentally, while bilateral relations between the UAE and Australia are underpinned by a long history of extensive trade relations – the UAE ranks as Australia’s largest trading partner in the Middle East – investment flows between the two nations have also seen heavy growth recently.

At last count, at the end of 2014, the UAE’s investment in Australia was estimated at $26 billion, and Australia’s investment in the UAE was calculated at $2.4 billion .

David Baird, the chief operating officer of Sanad Capital, said the demand on Australian infrastructure to keep pace with its growing population and its burgeoning economy was mounting.

"Australia has proved a safe haven for investments and ventures because of its financial stability, and through the establishment of Sanad Capital, we’re hoping to attract international brands and alliances to our promising projects in and around the Sunshine Coast," he noted.

Sanad Capital’s operations and business services will span project investment, private equity, retail, pre-IPO capital and joint ventures, he added.-TradeArabia News Service




Tags: Australia | Dubai group |

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