FIRST CENTRAL AMERICA
2006 saw an energetic investment programme in Central America with the launch of First Central America. The company's initial focus was on ownership of prime commercial real estate in Panama with strong covenants from blue-chip tenants. More recently the company has invested in residential real estate in Miami, Florida.
By 2006, just two years after its formation, FSA became one of the largest privately owned property developers in Argentina. Its projects range from city centre luxury residential and commercial developments to major suburban residential complexes and the largest business park in Buenos Aires.
BANGKOK REAL ESTATE
In 2006 we commenced development of the Belgravia Residences condominium in the heart of Bangkok. This joint venture with a leading Thai property developer provided 48 ultra-luxurious homes within a few minutes' walk of the city centre.
LAST OF 67 SHIPS SOLD
The sale of four platform supply vessels as the shipping upturn reached its peak brought our total fleet sales to 67 vessels over three years. In the ensuing years we maintained a modest fleet but were poised for re-investment in shipping when conditions were right. This was realised with our major re-investment in shipping in 2009.
In 2006 we undertook major expansion of First Mediterranean Investments (FMI), a holding company for our interests in the South Eastern Mediterranean and Balkan regions. Today FMI spans hospitality, energy and real estate.