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Al Qudra International signs an agreement to develop 'Abraaj Sana'a' with the General Investment Authority in Yemen

According to the agreement, Al Qudra International, in association with Yemen's General Investment Authority, will commence the processing of the project's infrastructure, in terms of laying roads, electricity connections, sanitation and other services.

Yemen: Thursday, December 06 - 2007 at 14:02
PRESS RELEASE

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In the presence of His Highness Sheikh Abdullah Bin Zayed Al Nahyan, Minister of Foreign Affairs of the United Arab Emirates and a number of senior political and economic personalities, Al Qudra International, the investment arm of Al Qudra Holding abroad, recently signed an agreement with the General Investment Authority in Yemen, to develop 'Abraaj Sana'a' project in Sana'a'.

'Abraaj Sana'a' consists of residential and commercial towers, a shopping centre, a luxurious hotel, as well as villas, diplomatic club, and a variety of services and innovative facilities with the highest standards of security and safety.

His Excellency Eng. Salah Salem Bin Omeir Al Shamsi, Chairman and Managing Director, Al Qudra Holding said: 'Our decision to develop 'Abraaj Sana'a' project is inline with Al Qudra International's long term vision, and its determination to develop unique and luxurious projects throughout the world. We chose to invest in Yemen as Al Qudra strongly believes that Yemen's market has the right and distinctive mix of factors of success within the region.'

Beside the commercial and residential towers, villas, prestigious clubs, furnished apartments, and the huge shopping center, 'Abraaj Sana'a' includes landscaped green areas, swimming pools, tennis courts, parking spaces, and other advanced facilities, which will make this project a major tourism destination within the Yemeni capital.

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About Al Qudra International:
Al Qudra International, Al Qudra Holding's foreign investment arm, focuses on searching for major investment opportunities outside the United Arab Emirates, with an investment strategy to enter international markets with high growth rates. The company is currently developing real estate and industrial projects in various parts of the world, specially the Middle East and North Africa region, in addition to the Asian region in general. Al Qudra International has offices and branches in numerous countries, and is constantly looking for projects with value-added quality to the economy of the country in which they operate.

About Al Qudra Holding
Al Qudra Holding is the leading private joint stock investment company based in the United Arab Emirates. Established in May 2005 with a capital of Dhs550m increased subsequently to Dhs600m, the company has focused on contributing to the development of the Emirates and has quickly become one of the fastest growing companies in terms of performance, as well as market capitalization.

Today the company has a large group of specialized subsidiaries that operate under its umbrella in important sectors such as education; tourism; industry; health care; agricultural, energy; infrastructure development; sports management and the entertainment industry. Furthermore, Al Qudra Holding has put forward unique investment opportunities and facilitated the development of various projects that meet the local and regional market needs.

The company is considered the ideal strategic partner for many leading regional companies looking to invest in the United Arab Emirates, and Abu Dhabi in particular. This has been achieved through the trust, expertise and competencies that the company has acquired through the successful foundation of project and investment strategies that have attracted strategic and specialized partners in all fields from across the globe. Al Qudra Holding is currently investing in the development of various projects in Morocco, Yemen, Algeria, and Senegal with future plans to invest in Egypt, and Syria and other international economies.

For more information, please contact:
Firas Al Naasan
PR Account Director
Viola Advertising & PR
Tel: +971 2 644 9444
Fax: +971 2 645 1199

Posted by Lara Lynn Golden, News Editor
Thursday, December 06 - 2007 at 14:02 UAE local time (GMT+4)

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