Middle East strenghthens its position during worldwide turbulent times
Just as we predicted by the end of 2008, the „rescue operation” of the luxury industry will come from the Middle East and Asia (Hong Kong, Taiwan and Japan). It is not surprising that in recent news the investment fund Abu Dhabi was announced as Daimler’s number one shareholder. This comes as a conclusion for the fact that investment funds in the region have been extremely active in the last decade. CPP has initiated important networking with investment funds and investors in Kuwait, the Emirates and Liban starting with 2007. The experience of these investors, given by their exceptional management and finnancial force, has become defining for the dynamics of the global economy, especially with the crisis still in effect. CPP realized since 2007 the potential for the Middle East to become a force in Europe, especially on Central and Eastern markets. Companies that are included in CPP’s network are already involved in hospitality, residential and retail luxury projects. We are talking about franchise businesses but also managing department stores. CPP’s visit in Dubai between the 19th and 23th of March will end with the set-up of several important luxury hospitality and retail projects for the Romanian, Bulgarian, Serbian and Croatian markets.
Concerning the Asia and especially Hong Kong, we will notice the same level of interest in the European emerging markets, especially for the hospitality and residential projects.