Arzaq Holding launched with a capital of Dhs150m

Founders committee of Arzaq Holding have elected Sheikh Tariq bin Faisal Al Qassimi as a Chairman of the board, following the launch of Arzaq Holding as a private shareholding company with a paid-up capital of Dhs150m.

In line with the ongoing regional economic growth, the company was incorporated to explore the untapped opportunities and to capture a considerable chunk of the existing business in various sectors, with special interest in financial and real estate sectors.

Founders include a selected group of high profile companies and elite businessmen such as The Kanoo Group, Zabeel Investments, United Holding, Sauod Limited, GIBCA, and Musahemat.
Sheikh Tariq bin Faisal Al Qassimi expressed his gratitude for the shareholders who trusted him, and wished that the company will position itself among the leading investment companies in the region.

In his statement on this occasion, Al Qassimi said: "We have a vast wealth of investment opportunities in a vibrant market that has already attracted huge investments. Therefore, our challenge lies in identifying the best investment opportunities and optimizing our benefits from such opportunities in a way that maximize the company profits and protect the interests of the shareholders." Speaking about the targeted sectors, markets and regions, Al Qassimi clarified: "We are looking forward to allocate an approximate amount of Dhs500m in a variety of financial, industrial and real estate sectors within the GCC countries during the coming 12 months. The current focus will be on the GCC markets, the leading markets that have become one of the most attractive destinations for international investments, due to their favorable investment climate based on long term strategies and plans to provide support and security for business and entrepreneurship'." Economists and market observers anticipate that the newly established company will be a quality addition to the market, as the ambitious company is willing and planning to offer up to date and innovative services with the highest levels of quality and reliability that will contribute in building a wide customer base. The company is projected to grow and expand on the foundations of the market experience and reputation of its founders.

In addition to the current attractiveness of the GCC markets, the results of Doha Summit, and the declaration of the GCC Common Market will open wide avenues for inter-gulf and foreign investments.

The unified market allows the citizens of GCC countries to benefit from opportunities in the Gulf economy and increase investment. It also intends to increase production efficiency, utilize available resources effectively and enhance the GCC's negotiating abilities among international economic groups.

The common market allows GCC citizens to participate in all economic, investment and services activities; practice professions and craftsmanship; deal and purchase shares; establish companies; work in government and private sectors; collect social insurance and retirement; own real estate; transfer capital; and benefit from education, health and social services. It also covers customs and residency. (WAM)