Baka Holding Limited, a leading Dubai-based multi national real estate consultancy and development company, on Monday announced the successful completion of an agreement to purchase a 20 percent stake in Apex FX Trading, for the amount of AED223 Million ($62 million), to strengthen existing portfolios of diversified investments and bolster regional presence. Baka Holding Limited, having emerged as a one-stop-shop real estate asset management company, which provides a full range of property development, management, leasing and brokerage services for residential and commercial properties, is poised to enter a new era of growth after its phenomenal rise in recent years. The stake purchase in Apex FX Trading is a significant step for Baka Holding in their ambitious pursuit of diversification plans. Commenting on the 20 percent purchase of stake in Apex FX Trading, Mansour Al-Othaimin, managing director and CEO, Baka Holding Limited, said: “These are exciting times for Baka Holding. We have had an enviable track record as a real estate asset management company, and now we want to explore uncharted areas of investment opportunities. We want to break new ground. And we have found a perfect partner in APEX FX Trading for our diversification plans.” “Our decision to team up with APEX is a deliberate and informed choice. We had conducted an in-depth and accurate analysis of the financial market and APEX FX Trading topped our list of requirements, and more over, they share our values and ethics as well as our vision for sustained growth in the future. APEX has honed its competitive edge in the global market and that will position us to achieve our rapidly expanding goals in the UAE and in the Gulf region,” he said. APEX already has a significant presence in the Levant region and the timely alliance with Baka Holding will open the doors for Apex into the thriving GCC market. Having registered and commenced its operations at the Dubai Gold and Commodities Exchange (DGCX), Apex, with its symbiotic deal with Baka will hasten the efforts to start operations from the Dubai International Financial Centre (DIFC). Al-Othaimin added: “I hope the partnership with APEX FX Trading, proven leaders in the fascinating field of foreign currency trading, will be mutually beneficial and highly rewarding.” He said the vision that catalyzed the purchase when he said: “The alliance between two strong partners, leaders in their own spheres, Baka and the Apex Trading, has been inspired by a keen desire to enable and protect investors from the pitfalls whirlpools of high finance. We, at Baka and Apex, are guided by the vision of intelligent investing and believe in enabling and empowering the investor to make informed choices.” Ayman Owaynat, chairman, Apex, said: “”Our fundamental objective is to let Baka enrich its portfolio of investments by making use of Apex's unrivalled experience in tackling the volatile world of high finance as well as banking on our brain trust. In turn, we at Apex, hope to spread our wings in the Gulf region, cashing in on the enormous goodwill of Baka." "This capital infusion allows Apex to enhance its dealing and IT services to exceed ever y need of our client in the ever changing forex market. We have tested the waters in Lebanon, Egypt, Syria and Jordan and now expansion into the GCC market tops our business agenda. We are moving in the right direction, at the right pace." "We have already gauged the Dubai investment climate by stepping into gold and commodities market. I'm sure you will hear from us more in the future.” __
