Emirates Real Estate Corporation Board approves the 2004 budget

During the course of the meeting attended by the board members, Mr. Abdullah Al Huraiz, EREC's General Manager, presented a detailed report on the Corporation's activities during year 2003, and the plans to be implemented in the future.

The Board approved the 2004 new projects inside and outside the UAE. EREC will construct the Foreign Ministry building in Sharjah, Ministry of Justice, Islamic Affairs and Endowment, (Justice Section)-Abu Dhabi, Ministries Compound in Dubai, Sharjah Medical Zone, Real Estate Bank in Abu Dhabi, and party/wedding halls in Shrajah. In the meantime, EREC will supervise the construction of government buildings overseas mainly the Embassy compound in Algeria, Khartoum, Beijing, Ankara, Dhaka, Nouakchott, Kabul, as well as the Ambassador's residence in Washington.

The Board also approved the consultants' contracts for EREC's projects including the Ministry of Foreign Affairs in Dubai, the Embassy and residence of the head of the Diplomatic Mission in Australia and, the Embassy and Ambassador's residence in Berlin. The Board also approved the construction and consultant's contracts for the UAE Diplomatic Mission in Brussels and the Ministry of Education and Education Zone projects in Dubai, as well as reviewed the rental contract sample of this project.

Mr. Al Huraiz concluded by commending the efforts of the board, chaired by H.H. Sheikh Hamdan Bin Rashid Al Maktoum, Dubai Deputy Ruler and UAE Minister of Finance and Industry, which will consolidate the role of the Corporation and make it an effective tool in boosting the economy of the country.