Western Gulf Advisory plans to open an Australian office as it looks to boost existing investments in the country.
Bahrain-based investment company Western Gulf Advisory is planning to open an office in Sydney by the end of this year.
The company is currently recruiting and expects to open with 14 technical staff.
"The opening is subject to a lot of rules and regulations, which we are undergoing now. We have hired good lawyers," Western Gulf Advisory chief executive and main shareholder Ahsan Ali Syed said.
"We are in the process of setting up infrastructure and once it is completed we will set up an office there. I'm confident it will be by year end," Syed said.
Western Gulf has made a number of investments in Australia, including investments in retirement villages.
The company is currently in negotiations to buy Australia's largest cotton farm, Cubbie Station, in Queensland.
The Cubbie Group, which owns Cubbie Station, went into administration in October with more than $300 million in debt.
Syed said the success of the deal depends on negotiations over the price to pay off Cubbie's debts.
"There are two stories to Cubbie station: one where we are taking equity participation, which is quite simple and straightforward, but the other is the purchase of debt from National Australia Bank and another bank," Syed said.
"We are negotiating $270 million of debt. Obviously I can not tell you how much I'm willing to pay but I might pay 20 per cent less, so we are negotiating," he said.
"Once that is accepted we are closing the deal immediately," he said.
