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Western Union Digital Expands Across Middle East: Seven Countries Now Live Including Enhanced Services in UAE

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Western Union Digital Now Live in in Seven Countries Across the Middle East, including the UAE

The Western Union Company’s global digital money-moving capabilities are making significant headway across the Middle East, with seven countries now offering online services, connecting customers to their families and loved ones around the world digitally with the choice to pay for transactions online or in person.

The United Arab Emirates was enhanced with the latest generation of Western Union’s omni-channel platform, joining BahrainJordanKuwaitLebanonOman and Qatar, as a part of Western Union’s deep commitment to keeping the Middle East at the forefront of the digital revolution.

In the UAE, the company launched the Western Union® mobile app and relaunched the website. Customers in the UAE now have the choice to pay for transactions online or within the app via direct transfers from their bank accounts set up in the UAE.

Currently, Western Union offers digital service via in over 60 countries, plus territories, with mobile apps in 35 countries; moreover, its entire network is a combination of retail Agent locations in more than 200 countries and territories, account payout in nearly 100 countries, and wallet payout in a dozen countries.

The Middle East is a vital and rising economic hub bringing people together from across Europe, Africa and Asia and lifting them toward prosperity. International migrants working and living across the region represent a large part of the population and collectively send billions of remittances back home. In the UAE, 88 percent of the population are international migrants, followed by Qatar at 75 percent, Kuwait 72 percent, Bahrain 51 percent, Oman 41 percent, Jordan 40 percent and Lebanon 34 percent, according to the World Bank1.

“Our commitment to the Middle East is a step forward to a more prosperous and globally connected future. Our digital services support a globally-integrated living without leaving anyone behind. We use cutting-edge technology to simplify money transfer. Our systems automatically handle complexities from compliance to volatile currency exchanges so users can transfer money 24/7 to nearly every country across the world, with the touch of a few buttons,” said Western Union President and CEO, Hikmet Ersek.

“Our systems are also designed to allow customers at any level of financial experience to use any channel they like, be it digital or cash, online or offline,” he said.

“The ability to smoothly and fluidly transfer money internationally by the latest digital means elevates our relevance to our customers across the world”, said Western Union General Manager and RVP for Middle East and Africa, Alexandru Badulescu.

“Western Union’s customers are multi-cultural, multi-generational with diverse financial and technological savviness. Our omni-channel approach is about servicing the widest group of customers by catering to their specific money transfers needs,” he said.

Western Union has been providing money-transfer services across the Middle East countries for over 20 years and has more than 4,000 retail agent locations in Bahrain, Jordan, Kuwait, Lebanon, Oman, Qatar and the UAE. Customers still have the choice to access these locations to send money transfers in person, reflecting the company’s commitment to providing choice and options to connect to families and friends around the world.

In addition to the omni-channel countries, which combine Western Union’s digital and retail footprint, Western Union also offers money transfer services across its Agent network of additional Saudi Arabia, Sudan, Egypt, Iraq, Palestine, Syria, Afghanistan and Pakistan, with an additional 10,500 Agent locations.

  1. International Migrant Stock Data


In line with the local regulations, prior to the first use of the online service, customers are required to register on, then verify in-person with their valid government-issued resident ID at an Al Fardan Exchange Agent location. After successful verification, customers will receive a notification confirming they can now conveniently send Western Union money transfers anytime, with a few clicks, online.

In addition to the convenience and reliability of sending money any time, the website and app (available for iOS and Android users) displays current exchange rates and fees, tracks money transfers online, lists recent and pending transactions, provides round-the-clock customer service and lists payout options available in the receiver’s country.

For more information, customers can visit any of the Al Fardan Exchange locations, call 800 SENDWU, write to or refer to Frequently Asked Questions (FAQ) under the Quick Links section, at the bottom of the page on

About Western Union’s Cross-Border Platform

Western Union’s cross-border, cross-currency money movement platform – including a robust digital footprint, settlement, treasury and compliance infrastructure, a vast global retail network of over half a million locations, and the ability to send money to billions of accounts and mobile wallets – sets the standard for international money movement. With operations in more than 200 countries and territories, Western Union’s platform processed an average of 34 transactions every second and moved $300 billion in principal across 130 currencies in 2018.

Connecting the digital and physical worlds of money, Western Union’s technology stack, APIs, foreign exchange and settlement engine, agent network, anti-money laundering and fraud detection capabilities make it one of the largest digital and physical money movers for consumers around the globe. Approximately 75% of Western Union’s digital transactions globally now originate on mobile devices.

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Berkeley Assets UK arm receives Financial Conduct Authority (FCA) regulation approval

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International private equity firm completes application process by world-renowned financial services regulator

International private equity firm Berkeley Assets’ UK office has received the official stamp of approval from the Financial Conduct Authority (FCA), one of the largest and most respected financial regulators in the world, as an approved representative.

After a thorough application and due diligence process, the FCA has added Berkeley Capital and Asset Development Ltd (known globally as Berkeley Assets) to its register of approved representatives that abide by a strict code of conduct to make financial markets honest and effective.

Mike Clark, Partner at Berkeley Assets, said: “The FCA is the gold standard regulation across the globe and we are very proud to have achieved this recognition.

“It will make a significant difference to us as we continue to develop and expand the business on an international scale, and provides our clients with a third party vote of confidence to know that they’re working with a reputable and respected firm.”

Berkeley Assets recently announced its global expansion plans, adding a range of new offices to the existing locations in London and Dubai.  The Marbella office opened earlier this month, while Mexico City and outposts in Africa and the Far East are set to follow throughout 2019 and 2020.

Established in 2013 by taking over responsibility for conduct and regulation from the Financial Services Authority, the FCA operates to secure an appropriate degree of protection for consumers, to enhance the integrity of the UK financial system and to encourage effective competition in the interests of consumers.

Omar Jackson, Partner at Berkeley Assets, added: “As a regulated FCA firm, every process we undertake in the UK must abide by the Authority’s Handbook, which is in place to protect consumers and the financial services industry.

“All our global private equity advice, services, recommendations, compliance and marketing efforts are consistent with our BCAD Ltd headquarters in London, which means that our clients have absolute peace of mind that they’re working with a trusted partner.

“While not all private equity firms seek FCA approval, it was an important milestone for us due to the nature of our transparent operations and the way we communicate with our clients, particularly those in the retail market.

“This approval will also help us attract other regulators around the world to work with us and that is something we encourage and are working hard to nurture.  Our clients know that we’ve passed the most stringent, diligence compliance checks with regulators and banks globally, and everything we offer to them is in line with an independent, respected authority.”

With investments in real estate, hospitality, logistics and technology, Berkeley Assets raised US$112.8 million in total in 2018 from the Middle East, Far East and central Europe, with US$16.2 million generated from the retail market and the remainder from institutional investors, far exceeding its capital raising targets.

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ICO phase begins for “Disruptive” Blockchain Telecom Technology

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New technologies simplify digital conversion that brings our world forward by providing effectiveness and solving complications. Blockchain is such an innovative technology that is likely to change the Internet and how companies do business. This technology is especially applicable to the telecom industry and could disrupt the current business model.

Quanta Networks, with its state-of-the-art blockchain based telecommunication platform, is aiming to provide every mobile user affordable connectivity with the right to privacy and security. To launch its prototype in the first quarter of 2020, the company is promoting subscriber involvement via its ICO by issuing Quanta Network utility tokens to its users.

This ERC20 token may be used later within the platform to buy access products. The token sale began on 15th April 2019. Industry insiders are showing great interest and Quanta Networks expects to easily reach its sales goal of for the project. This includes the private sale as well as the public sale.

The ICO sale will continue till 30th September 2019. The price is at $0.70USD/token.

Blockchain’s capability to change the telecom business

The application of Blockchain technology is a key development that will drive change in the telecom sector.

Blockchain generates new product opportunities that will positively impact competition within the telecom industry, however, it is also likely to disrupt the current field of service providers. Blockchain applications were first introduced into the Financial Services sector, but now the technology has evolved enabling new innovative Blockchain implementations suitable for deployment in the Telecom sector as well as other technology-dependent industries.

Dan Cummings noted in ETH News “the telecommunication industry looks to be the perfect facilitator for innovative blockchain projects”. For example, it could provide support and securitization for IoT (Internet of Things) as it grows in prominence within the broader digital product spectrum.

How can telecom companies keep up?

If blockchain turns out to be the way of the future for the telecommunications business, as Quanta envisions, communications carriers and service providers must get on board or they will fail to remain competitive in the digital marketplace. For telecom companies to use blockchain, they must implement a network that can handle it.

Blockchain creates new opportunities, allowing the telecommunications sector to operate with more secure, more efficient and more cost-effective business models. Not surprisingly, these all are core attributes that the “Quanta Network” product feature set promotes. Telecom industry experts have a belief that Blockchain applications will dramatically change the industry and in the process, leave a significant impact on society as a whole.

A Rich Route to Blockchain in Telecom

Blockchain in telecom is an influential model and the hysteria is to some extent justified. It can be seen as an easy, cost-effective and viable replacement for the traditional business finance infrastructure with teams of lawyers, bankers, OSS vendors along with the red tape and paperwork these groups so dutifully generate. What could be better? A Blockchain system that can easily replace that group’s functionality by creating trust imparted by third-party, authentication and smart contract services.

There are many roadblocks on the broad acceptance of Blockchain technology. There is an inherent lack of maturity attached to emerging technology applications. There is also a stigma attached to selling technology to Fortune 500 companies when the technology has evolved out of the origins of being a crypto-hobbyist application.

Quanta Networks believes it has the right approach. This strategy involves initiating the build-out of high performance, Blockchain compliant platforms that will evolve the Telecom industry and enable scalable, secure and efficient Blockchain environments.

An Overview of Quanta Networks

The Quanta Network is a “disruptive” new telecom technology. By comparison, Uber is a transportation company that does not own its own vehicles. Their business model is based on enabling and utilizing surplus or unused resources. Quanta creates network connections where there is available bandwidth by optimizing portions of network traffic, redirected in the interest of improved speed and connectivity, enabling devices to form a communication network by themselves, using their own available bandwidth. Quanta is creating a better network without purchasing any bandwidth.

Quanta Networks is a technology company based in Toronto, Canada. The company was founded in 2017 with a clear vision to build an “innovative” and” disruptive” Blockchain compliant telecom platform.

The team is comprised of network technology and Blockchain professionals. The core team of Quanta Networks possesses over 200 years of combined experience in the Telecommunications and Networking industries. Quanta Networks draws further knowledge from its advisory team of telecom industry veterans, Ethereum smart contracts developers, Blockchain experts, crypto researchers, legal advisors, and global banking advisors.

You can join the Quanta Networks project and take part in one of the most unique and disruptive projects in the history of communications technology.

BUY your tokens here!

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Unlock your Luck with UAE Exchange

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Are you waiting for the stars to align in your favour? Are you hoping to strike it lucky this year? How about getting the chance to win prizes for simply doing your routine monthly transactions? Then, look no further than UAE Exchange. This Ramadan, UAE Exchange, a leading financial services brand in the United Arab Emirates, is offering customers the chance to win a home in Dubai, premium luxury cars and daily cash prizes of AED 10,000.

“We constantly challenge ourselves to create new customer experiences and add value to our customers’ transactions. Campaigns are one such way through which we are able to bring a difference in our customers’ lives. The winning amount from each of our campaigns has helped many of our customers achieve their financial aspirations. We are confident that this year too will not be different,” said Abdel Kareem Alkayed, UAE Exchange Country Head for UAE.

UAE Exchange’s 2019 summer campaign runs from 24th April to 7th June. During this 45-day period, customers using any of the UAE Exchange services like money transfer, foreign currency exchange, bill payments and national bonds purchase at the brand’s retail outlets or via its digital channels such as the online money transfer portal, UAE Exchange mobile app and self-serve kiosks will be automatically eligible for the raffle draws. One mega prize winner stands to win a home in Dubai while three lucky winners will take home a Mercedes-Benz car each. Daily cash prizes of AED 10,000 will also be up for grabs for the duration of the campaign.

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Nazih Group Organizes a Special Gathering for its Industry Partners

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Unveils the Future of Interior Design for Spa, Beauty and Wellness

Total beauty product supplier and the undisputed hair and beauty expert in the MENA region, Nazih Group, organized a special gathering for VIP guests, media and key industry partners on 18 April 2019 at the Nazih showroom in Blue Tower along Sheikh Zayed road. This is the first of its kind gathering the group has launched and was aimed to honor and appreciate the valuable contributions of its long-standing partners in the beauty industry.

For this event, the theme is how the latest and most cutting-edge furniture design in the beauty, spa and wellness sector creates a sense of calm, peace and getting back to nature.

Three design experts from Nazih Group’s world-class partners flew to Dubai to share their knowledge and latest design innovations in the world of interior design for the beauty and spa industry in the ME region. These are Ilenia Zamboni, Export Department, Maletti Group; Giorgia Bisi, Export Sales Department, Nilo Spa Design; Ryuichi Horishita, Regional Sales Supervisor, Takara Belmont.

Nazih Group Founder and CEO, Mr. Nazih Hamad, comments: “Underlying our core philosophy of providing the best experiences in beauty and wellness to our clients here in the Middle East, we are proud to bring our famous partners to host social gatherings like this and let industry insiders share their knowledge and have a chat with their peers. This cements our position and reputation of making people live happier, healthier and more beautiful lives.”

“Being in the beauty industry is not only of face value, when we are able to make someone feel and look good, we create a positive impact in that person’s life and her/his outlook in life changes. Taking time for beauty treatments, rest, relaxation in wellness and spa centers is a must in the fast-paced age we live in,” Mr. Hamad adds.

The first presenter was from famous Italy-based Maletti Group. Maletti Group was founded in 1936 at the initiative of Guerrino Maletti, father of the current Chairman – Danilo – and Vice Chairman, Guido. The company has profoundly innovated the world of hair salon furnishings, becoming a reference point for the whole sector. It has grown into a formidable group and a recognised world leader in the design space. Maletti has long-standing experience in providing the finest furniture design for salons and spas. The company’s new range, Eden Plus wash unit, focuses on capturing the feelings of relaxation, beauty and nature.

The second presenter was from Nilo Spa Design, a division of Maletti Group founded in 1987. Nilo Spa Design is specialized in the production of furnishings and equipment for spas, wellness centres, beauty salons, hotels, gyms and beauty institutes. Nilo Spa Design presented some iconic products from its collections and the Madeleine chair, from the new collection designed by Maison Sarah Lavoine, a famous French designer and one of the contemporary icons in the world of design.

The third presenter was from Japanese brand Takara Belmont, the innovative leader in salon design and technology. Celebrating a heritage of fine craftsmanship, the company founded in 1921 manufactures furniture for salon equipment, men’s grooming, shampoo and spa equipment. Its newest range includes the famous Yume Headspa, which provides a remarkable sensory experience. Unimaginable luxury springs to life with the Yume Headspa, with never before seen comfort for guests, stylists, and salon owners. With a cushioned neck pillow, adjustable leg apron, full reclining capability, and one-touch reclining technology, the Yume Headspa lets stylists perform lengthy head spa treatments with ease while their customers experience the deep relaxation that they crave. Takara Belmont invests time and effort with sourcing superior quality materials and employs a 16-point quality inspection, to ensure hand-crafted perfection.

“Helping people fulfill their wish to stay beautiful and healthy by providing superior products and services is the Takara Belmont corporate goal,” says Hidetaka Yoshikawa, Takara Belmont Chairman & CEO.

Nazih Group aims to organize more social gatherings in the future as a platform to thank its industry partners for their continuous support and as an open forum for industry professionals to convene and be one in ensuring the world of beauty thrives. Nazih lives by the philosophy of providing world-class beauty products, and luxurious spa & wellness furniture from its partners that provide ease of use, comfort and convenience.

Get in touch with Nazih Group for more information or visit

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UAE and Saudi Invest More than $70 Billion to Boost Maritime Sector

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IODC 2019 will host a special panel discussion and a technical session on the maritime sector discussing current challenges and opportunities, operational efficiency, digitalisation, regulatory compliance, autonomous vessels, new technologies and much more


The first International Offshore Development Congress (IODC 2019) happening on April 28-29 at Jumeirah Etihad Towers, Abu Dhabi, will discuss prevailing challenges and opportunities in the regional and international maritime sector at special sessions on both days of the event.

With the rising demand for freight handling, logistics, and other sub-services, the regional maritime sector is looking ahead into a brighter future. Saudi Arabia and the UAE particularly are becoming undisputable shipping hubs with considerable investments into infrastructure and for their seafaring expertise.

According to recent reports, the UAE has invested around $65 billion into the development of ports across the country in a bid to elevate its position as a maritime hub. Whereas, Saudi Arabia’s maritime sector is set to receive a substantial boost with allocations under the $8.8billion set aside for industries including logistics in its recently announced budget for 2019. The UAE alone handles more than 15 million 20-foot equivalent units (TEUs) a year, and these numbers are steadily increasing as the region caters to about two billion people in China, India and the GCC as well as Russia and Eastern Europe.

However, from increased regulations and overcapacity to port investment and infrastructure requirements, the shipping industry faces significant challenges as well. A special session at IODC 2019 will host experts from shipping, carriers, freight forwarders, transport including H.E Khamis Juma Buamim, Chairman, IODC 2019, AAPP & DCMMI Emirates; Capt. Mohammad Ajjan, Fleet Manager OSV, Zakher Marine International Inc; Jamil Al-Ali, Manager Fleet Engineering Group, Kuwait Oil Tanker Company (KOTC); Eng. Spyridon T. Lalaounis, Senior Manager – New Build Management, Bahri Ship Management; Vaibhav Gupta, Commercial Director, CTS Offshore & Marine Limited; Carlos Guerrero, Global Market Leader Tankers & Gas Carriers, Bureau Veritas, France; Mohamed Metawie, Divisional Manager, Ali & Sons for Marine & Engineering Factory (ASMEF); Eva Peño, Global Markert Leader OSV & Tugs, Bureau Veritas Marine & Offshore, France; and Andrea Di Vella, Middle East & Africa Area Marine Director, RINA .

The key issues facing the region’s maritime and trade sectors will be discussed with a focus on evolving technologies that are sooner or later expected to come into play, this includes artificial intelligence, industrial internet of things (IoT), autonomous surface vessels, block-chain, augmented reality, virtual reality, drones and robotics. The session will also talk about sustainability and operational shift towards a greener future.

Apart from this, the IODC 2019 will bring together key industry stakeholders including NOC’s, IOC’s as well as all other stakeholders relevant to the Oil and Gas offshore development.

Organised by Arab Association of Petroleum Professionals (AAPP) and Maarefah Energy, the event is supported by DCMMI Emirates, World Ocean Council, ROPME, PERSGA, MEMAC and Oil & Gas Safety Council. Industry leaders such as Baker Hughes, National Marine Dredging Company, Schlumberger, Mubarak Marine, Weatherford, Wartsila, Bureau Veritas and Emirates Maritime Arbitration Centre are sponsoring the event.

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Michael Toporek and Matthew Lipman resign as Directors from Brookstone Partners Morocco

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Due to the breach of trust between shareholders of Brookstone Partners Morocco (the “Company”) and an ongoing criminal dispute against its Chairman and CEO, Mr. Omar Belmamoun, two Directors have resigned. Effective immediately, Mr. Michael Toporek and Mr. Matthew Lipman are no longer members of the Company’s Board of Directors. As a direct result, Matthew Lipman has also given resignation from his position as Deputy CEO.

After learning of the alarming conclusions made in an expert report which highlighted acts of abuse of corporate assets, misappropriation and fraudulent use of the Company’s funds contrary to its interest and corporate purpose and solely for the benefit of Mr. Belmamoun and his relatives, it is Mr. Toporek and Mr. Lipman’s belief that these resignations are justified.

In addition to the above-mentioned and alleged criminal misconduct, it is Brookstone’s position that, “Mr. Belmamoun systematically refused to grant access to the Company’s economic, accounting and financial information to Mr. Toporek and Mr. Lipman. Mr. Belmamoun deliberately ignored a judgment–confirmed again in an appeal–against the Company, forcing it to release the required financial records, despite a penalty payment of MAD 1,000 per day of non-compliance.”

The Director’s role in an independent, diligent and well-informed manner, and in accordance with the Moroccan law 17-95 as modified and supplemented by law 20-05 regulating joint-stock companies, is the basis for a secure and successful company. This requirement is particularly reinforced in the case of companies’ subject to reinforced regulations or undertaking commitments with the Moroccan administration. This is the case of Brookstone Partners Morocco, an investment firm approved by the Ministry of Finance and subject to the supervision of the Moroccan Capital Market Authority, which was the first company to have Casablanca Finance City status.

In consideration of these recent resignations, the minimum number of Directors required by law and the Company’s Articles of Association, is no longer met; and therefore, this Board of Directors is invalid and must be reconstituted.

The Chairman of the Company is now required to convene a General Shareholder’s Meeting within thirty days from today in order to reconstitute the Board of Directors and appoint a new CEO.

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Philip Morris International Presents IQOS World Revealed by Alex Chinneck at Milan Design Week 2019

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  • Unique Collaboration Brings Together Advanced Technology and a Visionary Artist

Philip Morris International Inc. (PMI) (NYSE: PM) today presents IQOS World revealed by Alex Chinneck at Milan Design Week 2019, the pinnacle event in the world of art and design. IQOS, the flagship innovation in PMI’s smoke-free portfolio, will host the exhibition to the public April 9-14.

The IQOS World exhibition—which is expected to be visited by more than 50,000 people during Milan Design Week—is an artistic expression of the future, brought to life through a collaboration with well-known sculptor Alex Chinneck, whose art is distinguished by his bold and disruptive vision. Alex’s unique talent for combining art, architecture and theater in his work manifests on a monumental scale: The architecture itself, both inside and out, becomes transformed into a work of art, taking on new and unexpected shapes. The walls and floor become metaphors for a process of transformation, evoking—through imaginative portals—seemingly infinite routes to a newly imagined future.

“By taking familiar materials and architectural forms and making them behave in extraordinary ways, we are working with IQOS to change visitors’ perceptions of what is possible,” said Chinneck. “Through the repeated use of the zipper, we have opened up the fabric of a seemingly historic Milanese building to playfully re-imagine what lies behind its facade, floors and walls. Ethereal light pours through each opening, filling the space with color and filling the work with a sense of positivity and potential.”

Milan Design Week is the most important event in the world related to the topic of design—it premieres the latest trends and plays host to events, exhibitions and presentations that complement the unparalleled design of IQOS.

“PMI is leading the transformation of the tobacco industry—one that is based on science and innovation. Our aim is to create a smoke-free future; that is, a future where smoke-free products like IQOS replace cigarettes to the benefit of society,” said Frederic de Wilde, president EU Region, PMI. “It is precisely this thought, aimed at revealing an alternative vision of the future, which naturally guided our collaboration between IQOS and Alex Chinneck.”

IQOS 3 and IQOS 3 MULTI represent the latest versions of the flagship smoke-free device from Philip Morris International. They are characterized by an ergonomic and elegant design; the latest innovation uses a state-of-the-art system that involves heating the tobacco sticks, thus preventing smoke. Design and innovation, therefore, have the power to have a positive impact on the lives of people who smoke and, collectively, the future of public health. As a company, our priority is clear—to help adult smokers who would otherwise continue to smoke to switch as quickly as possible to potentially less harmful alternatives. To date, more than 6.6 million adult smokers in 44 markets around the world have quit smoking and switched to IQOS—playing an instrumental role in building a smoke-free future.

Philip Morris International: Building a Smoke-Free Future

Philip Morris International (PMI) is leading a transformation in the tobacco industry to create a smoke-free future and ultimately replace cigarettes with smoke-free products to the benefit of adults who would otherwise continue to smoke, society, the company and its shareholders. PMI is a leading international tobacco company engaged in the manufacture and sale of cigarettes, smoke-free products and associated electronic devices and accessories, and other nicotine-containing products in markets outside the U.S. PMI is building a future on a new category of smoke-free products that, while not risk-free, are a much better choice than continuing to smoke. Through multidisciplinary capabilities in product development, state-of-the-art facilities and scientific substantiation, PMI aims to ensure that its smoke-free products meet adult consumer preferences and rigorous regulatory requirements. PMI’s smoke-free IQOS product portfolio includes heated tobacco and nicotine-containing vapor products. As of December 31, 2018, PMI estimates that approximately 6.6 million adult smokers around the world have already stopped smoking and switched to PMI’s heated tobacco product, which is currently available for sale in 44 markets in key cities or nationwide under the IQOS brand. For more information, see our PMI and PMIScience websites.

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Day 1:Textile exhibition TEXPO Lahore 2019

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A very successful first day at International Textile exhibition TEXPO Lahore 2019!

Over 120 exhibitors in the feild of Art Silk & Synthetic textile, Garments, Fashion, Knitwear, towels, bedliners, handicraft, carpets, denim and many more!

The delegation of Pakistan Business Council’s members and Foreigners visited 3 hall and successfully connect to exhibitors and got new leads not only in textile fields but in their common business.

In the afternoon we had fruitful meeting with Hon. Razzak Dawood, Minister of Trade Commerce, and Foreign delegates from UAE and Saudi.

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Dubai-London private equity firm open for business with new office in Marbella

International private equity firm Berkeley Assets has launched its operations in Spain, with a new office in Puerto Banus, Marbella, as part of its global expansion plans for this year.

The office will cover the whole of Spain with particular emphasis on Madrid, Barcelona and Malaga through its active distribution network.  Physical offices in the Madrid and Barcelona may follow later in the year.

Managed by the team at Berkeley Assets’ London headquarters, the Marbella office is working to raise EUR1million per month from the retail market in the first year of operations due to the demand from individuals looking to place capital in private equity.

Commenting on the expansion, Mike Clark, Partner at Berkeley Assets, said: “We chose Marbella because we want to be in prestigious destinations which are unique and not the obvious financial hot spots.

“Puerto Banus is a beautiful area, one that is very popular with expatriates, and we believe this is the right time to build a physical presence here as the market picks up again with a lot of potential business in the offing.”

The office is the first of six new locations that Berkeley Assets will open this year as part of a major global expansion of the private equity firm.  Mexico City, Moscow, Cape Town, Hong Kong and Singapore will all follow throughout 2Q to 4Q as part of the company’s strategy to meet demand.  The firm’s Dubai office will manage all Far East operations.

Omar Jackson, Partner at Berkeley Assets, said:  “We are launching in areas where we know there is an appetite for private equity, and Spain presents a number of lucrative opportunities for us, both in terms of raising capital from institutional and the retail market as well as investment projects.

“We are currently considering a substantial investment in Spain, which would be our first outside of the UK and the US.

“The retail market is generally more educated today; they understand the benefits of private equity and are leaning towards those options for personal investments.  There is more faith in PE these days because it is outperforming every other aspect of the finance industry and is the most trusted sector.”

Berkeley Assets raised US$112.8 million in total in 2018, with US$16.2 million generated from the retail market and the remainder from institutional investors, far exceeding its capital raising targets.

The company’s portfolio of properties spans multiple sectors and includes existing and new to market assets in some of the world’s most sought after locations, including London, New York, and Miami.

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