DUBAI, UNITED ARAB EMIRATES--(Marketwired - Mar 8, 2017) - Global Equity International, Inc. (OTCQB: GEQU) and its fully-owned subsidiaries GEP Equity Holdings Limited and Global Equity Partners Plc. (http://www.globalequityinternational.com/), a specialist consultancy firm with offices located in Dubai and London, are proud to announce that its Human Resources division in Dubai, Kingsman James (http://kingsmanjames.com/), is now in the final stages of signing three large scale recruitment projects across the Middle East, potentially totaling US$3.5 million of revenue over the next nine months.
What began as a hard fought battle between nineteen firms circa ten months ago, Kingsman James is now down to the final two firms tendering for these valuable and lucrative contracts. The projects are split across three separate cities and clients. The project in Muscat (Oman) is for a leading Chinese Oil & Gas company and will equate to 60% of the US$3.5 Million. The final 40% is equally spilt between two projects in Dubai & Abu Dhabi. Dubai will see a UK based Engineering Consultancy Firm set up a Middle East HQ. The Abu Dhabi project is for a US based Construction & Engineering Company with a rich history across the MENA region.
A look back at 2016...
Economic turmoil in the Region, coupled with hiring freezes, made 2016 a tough year for headhunting firms. With close relationships and beating the competition on the projects that were approved in the year, Kingsman James fared well and ended the year as a revenue positive and profitable division of Global Equity.
A look ahead to 2017 and beyond...
The Construction industry continues to thrive in the MENA region, with more than US$500 billion worth of future projects that were announced in 2016 alone and in excess of 146 large-scale projects coming to completion in 2017 across Dubai and Abu Dhabi. Internally, we have decided to make the Construction & Engineering division of Kingsman James the business anchor which will be accountable for no less than US$5 million (18.3 million AED) worth of business over the next 3 years. To help us achieve this growth, we have brought on board a new member of the team, Mr. Jon Yew (Co-Founder of Paradigm International), a market leader in Construction, Oil & Gas and Rail recruitment. Through Jon's 15 years' experience in Europe and the Middle East, he has a proven history of accelerating business growth rapidly in a very short period of time.
Over the coming months, the Kingsman James team will work closely with James Payne, (Managing Partner), to identify new revenue streams for the business. One such will be the introduction of "Contract" recruitment to our portfolio of clients in the Middle East region. Much educating is needed around this proposition for businesses and the unparalleled advantages it can have for Construction, Engineering and Oil & Gas clients.
Our recently created "Aerospace and Defense Division," headed up by Miss Claire Hopkin, currently shows a pipeline value of US$1.1 million (4 million AED), with US$136,000 of already confirmed income to the business.
As outlined in our previous press release, we continue to see Legal and Finance recruitment in the MENA region as a buoyant market and will look to add more personnel to our team again within the next six months.
Jon Yew, Partner of Kingsman James, said, "I chose Kingsman James as I believe the direction James and the other Partners are aiming for is both achievable and realistic. The business model they have in place supersedes other companies that I have been in discussions with and this alone is definitively the start of good things to come with Kingsman James in 2017. Personally, I will look to expand our operations throughout the GCC area and grow this division of the business into revenues in excess of US$5 million over the next three years, with the run up to Expo 2020."
James Payne, Managing Partner of Kingsman James, said, "2016 was a tough year for the UAE, with many companies making large cuts to their headcount. Today, we are seeing that 2017 has started off really well with US$1.3 million worth of business in the pipeline and we are 'tendering' for a further US$3.5 million over the next 12 weeks; it seems this year will be the pinnacle year for Kingsman James, with forecasted revenues already well above our expectations. Solid foundations have been laid over the past 18 months, now it is time to build our castle as high as we can."
About Global Equity International Inc. and Subsidiaries
Global Equity International Inc., through its wholly-owned subsidiaries GEP Equity Holdings Limited and Global Equity Partners Plc., advises worldwide business leaders with their most critical decisions and opportunities pertaining to growth, capital needs, structure and the development of a global presence and HR requirements. With offices in Dubai and London, Global Equity has developed significant relationships in the US, UK, Central Europe, the Middle East and South East Asia to assist clients in realizing their full value and potential by bringing them to external capital and resources that place an emphasis on collaborative thinking. Furthermore, because Global Equity has offices in key financial centers of the world, they are able to introduce their clients to a unique opportunity of listing their shares on any one of the many stock exchanges worldwide.
Safe Harbour Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company refers interested persons to its most recent Annual Report on Form 10-K and its other SEC filings for a description of additional uncertainties and factors, which may affect forward-looking statements. The company assumes no duty to update its forward-looking statements.