Beirut, 16 September 2015: Emerging Investment Partners (“EIP”), has announced its first investment in the Lebanese market, through the acquisition of a majority stake in the Backyard Hazmieh, an exclusive hospitality and lifestyle destination located within the growing area of Hazmieh. The initiative that was sealed in partnership with Venture Group, a renowned hospitality company. This development marks a new trend in the Food and Beverage (F&B) investment practice in Lebanon and the region.
Karim Burhani, Managing Director at EIP commented on this investment stating that:” The investment will establish one of the largest F&B restaurant clusters in Lebanon, gathering more than 20 outlets including leading restaurants, high-end gym and well-designed kids playgrounds. We will introduce a lifestyle project that will offer a memorable experience to more than 100,000 households in the area. EIP is aiming to replicate this model on a regional level, leveraging on the Lebanese innovation in hospitality and architecture.”
Wassim Heneine, Managing Director at EIP, added that: “We are excited about this first investment by EIP. We have identified a strong appetite among our investors in such a highly rewarding industry that has gained much power in the recent period, despite the general investment mood in the country. We are relentlessly working on scrutinizing and exploring innovative ideas across all vital sectors in the region to offer our investors a multitude of investment opportunities with an optimal risk / reward profile.”
From their side, Rabih Saba and Marwan Ayoub, Managing Partners at Venture Group, noted on this occasion: “We are energized to see a new investment movement arising in the market and we are thrilled to see a new pool of investors raising their stakes in the hospitality sector which has all the elements of success and growth locally and regionally.”
The Backyard Hazmieh is a unique project scheduled to open its doors at the end of this year. It is a mix of F&B outlets and green spaces in the hub of Hazmieh where one can find the most renowned restaurants, cafes and pubs in the country, along with kids playground, gym and spa.
Emerging Investment Partners (“EIP”) is an investment management structure established in 2014 by the Obegi group (www.obegigroup.com)and Generation Alfa (generation-alfa.ch), together with Wassim Heneine and Karim Burhani. EIP’s objective is to invest in high growth, medium enterprises with regional expansion prospects in diverse sectors in the Levant, North Africa and selected African countries. The company is backed up by a pool of prominent private and institutional investors.