Al Qudra Holding announces 2008 profits

Additionally, the Company announced that the Company's total equity increased from Dhs3.4bn in 2007 to Dhs4.3bn in 2008.

Al Qudra Holding, despite market conditions, was able to achieve this profit due to its focus on key business areas, streamlining operations, and improving fiscal management. H.E. Hamad Al Shamsi, Chairman, stated,

"Al Qudra Holding continues to weather the economic crises due to its focused approach and its emphasis on delivery of its current projects. It has streamlined operations which has increased overall efficiency."

Profits were boosted by the successful launch of the Company's key real estate projects, including Ain Al Fayda and Shades, which have been well received in the market. The Company's utilities and infrastructure sectors also grew due to the strength of their underlying businesses.

Mahmood Ebraheem Al Mahmood, CEO, continued "We have successfully diversified the company's business to focus on five key sectors: real estate, industrial, infrastructure, utilities and agriculture. This focus on these sectors further enhances the value and the efficiency of our operations."

During the General Assembly, shareholders agreed not to distribute dividends in order to help finance ongoing projects and expansion into strategic sectors. Next year, the company said it will focus on delivering its announced real estate projects, including 6,000 government villas; in addition Al Qudra Holding plans to increase its diversification in fundamental sectors including utilities, infrastructure and agriculture.