Global real estate expert confirms to “Al-Shabiba”: 2010 will be a painful year for governments, companies, banks and individuals due to loans and financing
Blumberg Capital Company offers the latest designs and development management in the Omani market.
A global real estate expert described 2010 as a painful year for governments, banks, companies and individuals due to mass uncalculated borrowing last year, carrying with it a high and painful price; as debts rise the perceived risk increases with governments expected to put a stop to their borrowing trends. Meanwhile; many countries, with Italy and Spain at the forefront in Europe, are set to face serious financial crises. All these factors leave no doubt that real estate companies will also face challenges; particularly the companies that have not worked within balanced lending and financing policies.
Philip F. Blumberg, Chairman and CEO of Blumberg Capital Partners, a US based company, stated that “Oman enjoys wise leadership, a good investment climate and prudent economic policies, all of which encouraged me to come and invest, expanding the horizons of cooperation with businessmen, companies and government agencies involved in hotels and administrative offices, intending to form genuine partnerships with all parties.” Blumberg went on to say “I’d consider my visit successful by simply observing the economic and commercial dynamic in the sultanate, where investors in are characterized by executive intelligence and a strong future vision which will be contributing factors to establishing partnerships in the future”.
He added “we are looking to invest in Oman, alongside Dubai and Abu Dhabi. However, Oman differs from others of the region by holding undiscovered opportunities and we are aiming for our investments to reach one billion dollars. Our plan is to invest in two different geographic locations: the first in being Brazil, with its positive investment climate, and the second being the Gulf and the Middle East, with its fertile investment possibilities, particularly in a few undiscovered territories.
“Our company specializes in the construction of advanced administrative buildings with high-quality, five-star services, suitable for a number of sectors such as oil, gas and hotel administrative offices. Having achieved a 17% profit, one of the highest investment returns in the US, we offer a variety of services that include development and sale of upscale buildings, with management services to ensure the investor a high level of quality for years to come and long-term return for their investment. Some examples of these developments include food, reception and meeting halls along with a plethora of other services built upon years of experience and success in such projects’.
The head of Blumberg Capital Partners praised the style of buildings in Oman stating that they serve the environment and help investment in and trade of development, offering up the fact that buildings in Oman are designed in such a way that there is no fear of a building being eclipsed by a competitor five years down the line, commenting that “Oman has not yet been discovered by European and other global companies. Our presence here means places us far from competition, allowing us to achieve greater successes and form partnerships with Omanis.”
“We have a firm conviction that if you want to invest in any country, you must make best use of its human resources. As Oman is a country that establishes genuine partnerships between [foreign] businessmen and local companies that they know their country better than we do. Consequently, our investments in Oman will use a strategy that serves Oman, not merely the same strategy that we follow in America or other countries.”
Keywords: Abu Dhabi, Al-Shabiba, Blumberg Capital Partners, Dubai, investment, Oman, Philip Blumberg
