Advisers for realty services set up in Qatar; Grubb & Ellis, Abraham Group are US Partners11/14/06
Gulf News, Doha Qatar
DOHA - A new joint venture dubbed Grubb&Ellis/Gulf States Realty Advisors was set up here on Sunday to provide real estate services to Qatar and the Gulf region, company's representatives said.
The company is a joint venture between Daffa International Company, headed by former Qatar ambassador to the US, Bader Omar Al Daffa, and Middle East Real Estate Services.
Daffa International will have a 51 per cent stake in the joint venture. Middle East Real Estate Services, a company owned by the US Grubb & Ellis Management Services and The Abraham Group, will hold the remaining 49 per cent.
Gulf Times reported Badar Al Daffa chairman and CEO of the Daffa International Co, as saying the tie-up would give a remarkable boost to Qatar's ever-growing real estate sector. Al Daffa said it would pioneer the arrival of other players to the region in the coming years.
The Abraham Group, headed by former US secretary of energy, Spencer Abraham, is providing services worldwide.