Saraya Holdings highlights its recent developments

The purpose of the meeting was to discuss Saraya's recent developments and updates. The meeting was chaired by Ali Kolaghassi, Vice Chairman and CEO of Saraya Holdings, in addition to Saraya Development Group Managing Director and Saraya projects' General Managers.

Major issues affecting the global economy in general were highlighted with special focus on the challenges facing the Jordanian economy, specifically in the real estate and investment sectors. Key journalists and media representatives in Jordan attended the meeting.

Kolaghassi stated that

"The global financial crisis has had its effects on the various sectors and especially the Real Estate sector. The crisis resulted in falling consumer confidence and the postponement of buying properties. Real estate developers with strong balance sheets and operating efficiencies may use this opportunity to gain market share, especially that construction materials have decreased significantly, presenting an opportunity for stable developers to continue with their developments at a lower cost."

The roundtable also highlighted the latest updates about Saraya destinations and services. Saraya General Managers stressed that Saraya projects are under execution despite the global economic crisis.

Saraya Holdings has five destinations currently under development, namely; Saraya Aqaba and Saraya Dead Sea in Jordan, Saraya Ras Al Khaimah in UAE, Saraya Bandar Jissah in Oman, and Saraya Sochi in Russia.

It is worth mentioning that the paid up capital for Saraya Holdings totals to the amount of $220m, and Saraya's projects that are being currently implemented are worth $3bn. Saraya completes its commitment to its clients to provide utmost lifestyle and luxurious experience by introducing a number of high-end travel and tourism services complementing its destinations.

Saraya services include private jet services, limousine and luxurious yachts services; in addition to providing customized world-class services that are based on clients' requirements and needs. Saraya has recently announced the launch of two services; namely "Saraya Realty", which is the exclusive property selling and re-sales agent for all Saraya destinations, and "Saraya Skies" offering private jet operation services which grant short and long distance trips from and to any anywhere in the world. Saraya Holdings is proud to have a number of local partners in each country it invests in; such as the Arab Bank, Jordan's Social Security Corporation, Aqaba Development Corporation, the Government of Ras Al Khaimah, Al Omran - Oman, and Sistema Hals Real Estate.