Globex Business Centres expands into the Middle-East, Africa and Asia Region

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Ms. Lorraine Davidson, Director of Corporate Communications for Globex, stated 'Our Board has given our Management the mandate to expand the Globex brand of business centres and supportive services throughout the all important MEAA Region. Our initial licensing and brand development strategy will focus on the Middle-East Region with the UAE as the priority.'

'The UAE markets will become the 'hub' of our operations for the MEAA Region. The MEAA Region offers the world's greatest market opportunity for business centres due to: rapid population growth; double-digit economic growth; the emergence of significant regional trading blocks and patterns; limited competition; and the growth stage of the industry.'

Ms. Davidson added 'Our management team is comprised of talented executives with significant experience in the business centre industry in both the MEAA Region and globally. Our executives also share the Board's opinion that there is an urgent need in the MEAA for a strong Number Two [#2] Brand to challenge the market dominance of Regus. Specifically, our research determined that there is an unsatisfied need by centre customers, centre owners and operators, office space brokers, commercial real estate developers, investors, and venture capitalists for choice and an alternative brand!'

Hence, the Globex business model has been specifically designed to facilitate rapid expansion via the issuance of exclusive, long-term Master Licenses (the long-term agreements will help to ensure a stable network of centres, and, also provide a strong ROI for the licensees). A key component of the business plan is the Globex Master License Program. The Globex Master License Program offers the most competitive and rewarding packages due to: the issuance of most exclusive and longest-term agreements; strong brand and centre support; fair license fees; realistic development schedules; careful sensitivity to the cultural uniqueness of the MEAA Region.

All Globex centres opened in the MEAA Region will feature: prime locations in major commercial developments in metro markets; multi-centre formats to address different customer segments and needs (traditional centres; hotel centres; GX Corporate Space centres); meeting rooms with state-of-the art video conferencing facilities; catering services; world-class supportive centre staff (offering on-site secretarial services including word processing, photocopying); assistance with the procurement of visas; Nortel communication systems; virtual offices; and more.