Vertica is a company fully- owned by its founder Mohamad Sinno, a Lebanese businessman who has developed his 12-year, real-estate experience from working in Dubai, Qatar, and several Gulf markets.

“The company has been operational for two months,” said Sinno. It has a start-up capital of $100,000, but Sinno said that the capital would be increased at later stages “as the company expands.”

Sinno has successfully introduced the company’s entire capital, and will self-finance operational services at the meantime, and has no intentions to obtain financing from banks at this stage. “I want to avoid entering the bank game because this company is still young,” he said.

Vertica has two divisions. One known as Vertica Properties which will offer clients with all kinds of real-estate services- brokerage, real-estate sales and marketing, due diligence, mortgage, property management, in addition to other activities.

The other division is- Vertica Development, “which is the core of Vertica’s business,” said Sinno.  This division will offer business development services that might include developing its own real-estate projects or offering services for businessmen or clients who are willing to invest in the local property market through buying land, building villas or houses.

Today, Vertical employs a small team of about five employees, and after one year of operations, Sinno plans to double this team to around ten people.

Sinno was in talks with potential shareholders, but talks failed. “We diverged on certain ideas, I am looking for strategic investors who would add value to this company,” he said.  Today, Sinno is in talks with new investors from the Gulf who are interested in buying equity in the company, he said.

Sinno said that Vertica aims to offer a new experience in the local market through applying transparency, and integrity methods, and gain confidence of clients.”
 
Vertica will initially focus on the local market but plans to expand later to cover the Syrian and Iraqi markets. Sinno refused to disclose profit estimations for the first year of operation. “I prefer to keep profit forecasts confidential now,” he said.