UK asset management firm, Seventy Ninth Group expands operations into Dubai as part of global growth strategy
Family-run business opens UAE hub to build on investor networks and funds
SOUTHPORT, England, Nov. 16, 2022 /PRNewswire/ — One of the fastest-growing asset management companies in the United Kingdom, The Seventy Ninth Group, is expanding global operations with a dedicated UAE hub in Dubai’s financial district. The office will be situated in the Jumeirah Lake Towers and will serve as the headquarters of Seventy Ninth Global, the international brand of the Webster family portfolio of companies. The Websters also own the Seventy Ninth Group. The Jumeirah Lake Towers are located within the Dubai Multi Commodities Centre (DMCC), which has been crowned the ‘Global Free Zone of the Year’ by the Financial Times on eight occasions, and is home to four main sectors: Precious commodities, energy, metals and agriculture.
This is the next phase in the family business’ global growth strategy which has also seen the launch of its ‘Seventy-Ninth Private Equity Fund’ and expansion of its investment portfolio in its Seventy Ninth Resources natural resources business arm – all in just the last 12 months.
This latest development will enable the Seventy Ninth Global’s team in Dubai to build strong relationships with the networks of potential investors and investment funds in the region. The new site will be led by Ben Rockell, Head of Business Development and Reenu Sehgal, Investor Relations – Corporate, and will also serve as a base of operations when the team from the Seventy Ninth Group travel to the Middle East.
Of this latest development in the expansion of Seventy Ninth Global, Ben Rockell, Head of Business Development said; “I’m really pleased to be able to announce the acquisition of our new office, which places us in the heart of Dubai’s commodities district, where we will be well placed to build our relationships with international investors even further.”
Speaking from her role within corporate investor relations, Reenu Seghal added; “I’m really looking forward to the opportunity that opening this new office presents us with; to expand our global presence and connect with the various investment funds in the region and build awareness of the value of our offering.”
Further to the acquisition of these new premises, Seventy Ninth Global has also recently hired a new Account Manager, Patrick Willard. Patrick has moved to Seventy Ninth Global from deVere and will be responsible for account management of the network of agents and introducers, and growing the presence of Seventy Ninth Global whilst aiding with clients and product structuring.
Seventy Ninth Global’s expansion into the DMCC has been strategically planned to coincide with an upcoming event at the Emirates Golf Club Dubai, during which new and existing investors will be hosted by the Seventy Ninth Group and introduced to various new offerings. The Emirates event is just one of a roadshow of events across the Middle East and Asia; adding further emphasis to the importance of the company’s a base of operations in the UAE to support the continued global expansion of the Seventy Ninth Group’s client base and partnerships.
Owned and managed by the Webster family, including serial entrepreneur, David Webster (previously the UK’s largest private landlord), and his sons, Jake and Curtis, The Seventy Ninth Group holds a unique and prominent position in both the real estate and natural resources sectors, specialising in the acquisition and redevelopment of undervalued assets.
The Webster family has over 30 years’ experience as a leader in the real estate sector. It diversified its offering 10 years ago by moving into the exploration and sourcing of natural resources concessions, after seeing a synergy between real estate asset value behaviour and the natural resources sector.
The Seventy Ninth Group recently expanded its Seventy Ninth Resources portfolio and currently holds 17 mining concessions in Guinea, three of which are currently being prepared for expedited exploration, using Diamond Drilling, by world-leading geologists, SRK Exploration. Additionally, there are four further potential concession acquisitions currently undergoing due diligence. This expansion of the Seventy Ninth Resources portfolio is coupled with various real estate projects across the UK, under the Seventy Ninth Luxury Living and Seventy Ninth Commercial arms of the Webster’s businesses and they have 1,000+ clients globally.
Speaking about the continued growth of the business, Chairman, David Webster, commented; “Our new office in Dubai will allow us to connect easily with our overseas investors and in turn deliver on our core value of first-class customer service for both our UK and international investors.
“It represents another landmark in our growth roadmap and we’re very much looking forward to building new connections and relationships in the region.”
Chief Executive Officer of the Seventy Ninth Group, Natalie Bellis, added; “I’m absolutely thrilled about the opening of our new Dubai office. It gives us not only a presence in the UAE in terms of investors and brand placement, but also in a physical sense, with our staff there, including Patrick, who I’m delighted to welcome on board, now working from a central hub in the heart of the financial district where our investors do business.”
For further information, visit https://the79thgroup.co.uk