General Travel News
EIG Plans Expansion In Pakistan
Sharjah based Emirates Investment Group (EIG) is planning to expand in Pakistan. EIG is part owner of Emirates Global Islamic Bank in Pakistan. Vice Chairman Raza Jafa said they want to more than double their current 42 branches in Pakistan. Jafa said they want to have 100 branches by 2010 and their focus is on expanding into rural areas so they can help people there finance their agricultural projects.
The fall in western asset values due to the global financial crisis has caused many investors in the Middle East to seek opportunities. EIG owns a 25% stake in Enshaa, a private real estate company in the UEA. They are also considering opening a third Palace Versace in New York.
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