Noor International Holding signs strategic partnership with Philips

Noor International Holding - Real Estate Development and Philips Electronics, one of the largest global diversified industrial companies and a global leader across its Healthcare, Lighting and Consumer Lifestyle portfolio, contemplate entering into one or more specific project agreements, whereby Noor will be primarily responsible for the development of real estate projects, and Philips will be the preferred supplier for such projects, providing technology that includes solutions, equipment and services in the areas of healthcare, lighting, consumer lifestyle and other products and services from Philips' product portfolio.

The Memorandum of Understanding was signed by Dr. Mohammad Saleh, Chairman of Noor International Holding and Mr. Louis Hakim, Vice President of Royal Philips Electronics and CEO of Philips Electronics Middle East.

Commenting on this agreement, Dr. Mohammad Saleh, Chairman of Noor International Holding, said, "In today's world, more aspects of our lives are being enabled by technology, therefore we chose Philips, as they are focused on improving people's lives through timely innovations."

Louis Hakim, Vice President of Royal Philips Electronics and CEO of Philips Middle East, also commented, "Because technology is such a vital part of the way we live today, Philips believes that enabling technologies should be designed around people and that the route to innovation should be about simplicity, not complexity."