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Greece Weekly, September 19, 1988

Who is Who in Business

Fred Lafi H. Farha is President of Cencor international S.A. He is 53 years of age and he was born in Lebanon. He then emigrated to Canada where he studied Economics and Law at Ottawa University on an extension basis. Then he entered the development area and took special courses in finance and engineering. Before starting seriously in business, he worked in mining operations in the far North of Canada in an isolated area. Then he worked in the insurance field as a broker.

Cencor International, is a major developing company operating under Law 89. Farha tries to get involved in Greek projects but until recently he has not had any success.

He is married and has six children, and he still has family in Lebanon. He speaks fluent Arabic, English and French. His office in Greece is only a liaison office. His main work is in Saudi Arabia.

When we asked him how he foresaw the future of the development business in Greece he said: "There is a tremendous opportunity to develop Greece into a major touristic country to attract quality rather than quan-tity tourists. Greece as a tourist heaven can offer more than just sunshine and beaches. A lot of Canadians and Americans share a Greek heritage and hope to visit Greece for various reasons. The Greek language has also contributed extensively to the English language."

Then we asked him how he foresees the future ot his company as we are approaching the crucial date of 1992 and he said "Cencor itself will not participate in the development field in Greece being a Law 89 company. Fundmore Corporation Canada is our development arm and is trying to get involved in developing worldwide retirement homes in Greece. This is the most important and viable part in the tourist sector. There is an opportunity for people to come from abroad and buy a chalet in Greece for their retirement.

From a financial point of view this is a very important develop-ment. We, as a company, are interested in a time share system.

It is when you buy for 15 days each year the right to use a certain cottage for all your life. There is an element of timing, which is very crucial for this project. You require a great deal of funds to finance these activities "

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