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 $1b Arab fund to buy Aussie farms 

$1b Arab fund to buy Aussie farms

22 Jun, 2010 02:30 PM
A NEW entrant into the Australian financial market, Western Gulf Advisory (WGA), plans to invest $1 billion into the Australian economy over the next few years.

WGA is a European and Middle Eastern financial services company, which has already invested about $370 million into property developments in NSW and South Australia.

The company is owned by Indian born, Bahrain-Zurich based entrepreneur, Mr Ahsan Ali Syed.

Mr Ali and his chief financial officer, Mr Omer Khan, are currently developing a 10 year plan to grow WGA’s assets internationally.

Mr Omer Khan said WGA was committed to long term investment in Australia, and was impressed with Australia’s economic durability.

“Australia’s internationally competitive, advanced market economy and liberal business policies are among the reasons we are committed to this plan,” Mr Omer said.

“We are developing a long term plan for Australia, and intend on investing in various projects from property development and infrastructure to agriculture and mining.”

The Bahrain-Zurich based company is currently engaged in negotiations with Cubbie Group for a 53 per cent share of the rural company, with a $300 million injection of funds.

Cubbie Group owns the Queensland cotton farm, Cubbie Station, which went into receivership in 2009 after years of drought affected crops and revenue.

Last week, WGA announced that it would loan retirement village developer, Special Purpose Vehicle Holdings - Total Group US $180 million to develop further villages throughout NSW.

The loan will fund retirement property developments at Kantarra Life Style Village at Austral and Waterbrook developments in Greenwich and Yowie Bay, as well as industrial projects through FGD Property Holdings.

WGA’s first step into the Australian market was a loan of $220 million to property development company, Landmark Business Developments, to fund housing projects at the industrial hub in Gawler, South Australia.

Mr Ali established WGA to manage and grow his family’s wealth, to preserve 150 years of tradition.

WGA has total assets of US$8-9 billion.

WGA’s offices in Bahrain, Zurich and Hong Kong are family owned and have been established as part of WGA’s plan to grow Mr Ali’s family wealth.

The company does not borrow money from outside institutions or investors but instead uses its own money to fund new projects.

As a legal graduate and entrepreneur specialising in law and finance, Mr Ali is committed to transparent business practices, and has rapidly risen in stature and reputation as a trusted financial entrepreneur across the world.

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comments


Date: Newest first | Oldest first
Pick me! Pick me! They're tougher than I am - able to ride over the present communist leader we have. I can't seem to get a win against krudd & co. So yes, take my patch & good luck to them!
Posted by MaryMary, 23/06/2010 8:06:52 AM
I feel sick in the guts after reading this story! Who is making these decisions to allow this to happen!
Posted by tigerdicky, 23/06/2010 8:34:22 AM
Hey they are not investing oil but food in Australia for a very long term. We are already selling Natural Gas to Asia and the world at give away prices. We drive petrol driven cars and import oil to do so. Our food bowl is cheap as chips and we small farmers are starving as big buisness buys our produce cheaply and redistributes it with the greatest gains possible. I say lock up your farms till they are ready to pay the price for our primary products
Posted by Jon Noble, 23/06/2010 9:13:28 AM
The current political parties dont give a dam about farmers and rural people ,only care about big miners ,but the arabs and chinese are not stupid and can see a cheap source of food to feed their people into the future .They only need a few loads of boat people and reffos and many are here already to work the farms at peasants rates and the stupid aussies can beg for their tucker
Posted by cocky, 23/06/2010 9:30:51 AM
Take it easy! Aussie farms have been bought by English, Americans, Japanese and others. Now some Indians and Arabs have found an attractive place to park their spare money. They have to put it somewhere. They ae probably thinking twice about lending it to banks.
Posted by Barney, 23/06/2010 9:46:05 AM
Well, I guess we have to get all our petro-dollars back out of the Arabs, somehow! - and this looks like a good a way as any! After they've invested zillions into our rural economy, and had their ar$e burnt, with drought, fire, floods, and incompetent Govt decisions against rural industries - just like so many farming families have had - they will put their whipped tail between their legs, and run for home! Hopefully, they will leave behind, many vastly improved rural regions, after investing mega billions, to get millions in return - like so many have done before them!!
Posted by Ron N, 23/06/2010 10:08:57 AM
We definately do live in a communist country at present. Good idea lock up the farms and don't sell till the prices for commodities are at a decent and increasing price. Not have prices similar to the 80's.
Posted by High Country Gent, 23/06/2010 11:24:01 AM
For how long do you think you will have to lock your farms up? How many of you will do it? How long will it take to get enough farmers prepared to do this to make it effective? One decade? Two decades? How will you get by, financially? How will you stop the big bad bankers that you all whinge about figuring out that you are all out of your brains, and take the farm away from you?
Posted by Bushie Bill, 23/06/2010 1:31:31 PM
Barney makes a good point. How many of you in opposition to this have made the same comments and complaints about the New Zealanders, the Brits, the Americans when they bought our properties? If you didn't, would the reason have something to do with skin colour, by any chance? Scratch a straw-sucker, and more times than it should, racism shows its way through, along with an overload of hypocrisy.
Posted by Bushie Bill, 23/06/2010 1:39:59 PM
Look we have sold to all other nations so why not the Arabs as they need food too? What say we do the Food for Oil trade as it seemed to work in the past. This is a load of bull - our government are life-cycle vandals; all they do is get into power rip out what they want for themselves and leave the population to flounder in their aftermath. Why not sell the farm, they are selling everything else. Maybe we can all leave and find another lucky country as this one is fast becoming someone else’s lucky country. This is starting to go beyond a joke.
Posted by steve, 23/06/2010 4:56:24 PM
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