The group is currently undergoing consolidation of various brands which is expected to complete by 31st December 2011 further strengthening the group financially. The growth of investments across most sectors within the group is expected to remain steady in the coming year.
In the financial sector, the core business infrastructure for commodity exchanges is now fully developed and the Group is currently working on the establishment two exchanges, which are expected to be licensed in 2011 and go live for trading in 2012. A further five exchanges are expected to be licensed and go operational in 2013 and 2014 with a view to meet our initial objectives.
In the Hospitality sector work and permission for a new hotel projects in India have been approved and is expected to be launched mid 2011. The group is also currently working on a further three similar projects which are due for launch in 2012
In the retail sector following the successful launch our first shopping mall in India, The group would like to announce its plans to undertake a further two projects in this sector for launch in 2015.
In the healthcare sector we would like to announce the group’s intention launch of a new affordable health clinic in 2011 to complement the existing First medical line of clinics in Dubai. In this sector we are also considering expansion into India and Africa from 2012 onwards.
In the manufacturing sector the group has decided to increase production capacity in our steal manufacturing and steel rolling units, the group would also like to announce that it intends to add new units to this sector in 2012.
The group has remained unaffected by the recent downturn in the market due to our conservative zero debt approach. We have a cautious outlook on the economy, however the outlook on the group’s performance for the coming year remains extremely positive and we will meet all expectation.