Industry: Banking & Finance
Company: Daman Investments
The sale of his company’s shares to the public may not be taking place because of unfavourable market conditions. Yet Shehab Gargash is bullish and optimistic about the future.
“Two important things happened recently, the regional turmoil politically with the Arab Spring and the adjustment in valuations in the more developed regional markets, the Gulf,” Gargash told us last year. “Taking both of them into consideration, I think the future looks very promising for the Gulf. The macroeconomics are very sound, the valuations are attainable, the exaggeration premium has been flushed out.”
As managing director of Daman Investments, one of the UAE’s most prominent financial services firms, Gargash’s opinion is one that is widely valued. And looking forward, Gargash is bullish about a rebound in investor sentiment.
“People will maybe look at it maybe strangely but I think real estate will make a comeback in the UAE,” Gargash told us. “It’s the home of real estate in the region more or less. I think the financial services sector will become interesting and some of the less invested areas but I think they are the long shot, things like agriculture in some of the countries around the region may see investment.”