has sold no land this year, recording an unaudited net loss of $18.
The governing board of Al Zorah Development Company, a joint partnership between the government of Ajman and Solidere
International, reviewed all current projects valued at over Dh1.
The inauguration ceremony was also attended by Sheikh Rashid bin Humaid al-Nuaimi, the chairman of Al Zorah Development Company, and Nasser Chammaa, chairman of Solidere
Around EGP 210m of the loans was used to pay the outstanding settlement to Solidere
International, with the remainder allocated to finance the project's funding gap.
Guided by Solidere
International, Al Zorah's masterplan stands out for its development approach of integrating the natural environment with modern amenities.
and Nasser Chamm, chairman of Solidere
International, along with prestigious Saudi dignitaries and the press, highlighting an ambitious project with a location and architectural design that emulates the finest world towers.
The post Solidere
shifts from rents to sales in search for profits appeared first on Executive Magazine.
Orange Business Services is delighted to renew the contract with Solidere
, whose flagship real estate development provides a showcase for IPTV and demonstrates the added value that ICT can bring to premium real estate projects," said Jean-Luc Lasnier, General Manager Middle East & Africa, Orange Business Services.
Highlights from the report included: i) a higher contribution of rental income to gross revenues in line with the Company's strategy of expanding its revenues away from land sales by doubling the rental income over the medium term, ii) favorable margins on land sales as Solidere
benefits from higher selling prices, and iii) higher debt levels as Solidere
funds the completion of infrastructure and real estate developments including the North Souks and several properties in the BCD area.
, responsible for the rebuild of Beirut Central District in the post civil war era, was founded by assassinated former Lebanese Prime Minister Rafiq Hariri for
Orange Business Services, the B2B service division of France Telecom Group has renewed a five-year telecoms infrastructure contract with Solidere
, the Lebanese company for the development and reconstruction of the Beirut Central District.
Orange Business Services, part of France Telecom-Orange (Euronext:FTE) (NYSE:FTE), said today that it has renewed and enhanced a five-year telecoms infrastructure contract with Lebanese real estate company Solidere
AJMAN -- Al Zorah Development Company, a joint venture of the Government of Ajman and Solidere
International, has unveiled the full master plan of its ambitious Al Zorah Resorts project, a premium tourism destination located on the northern coast of the emirate.
The attributes that made the project so special at its launch never changed -- the turquoise sea and the mangroves are still very much there," said Mounib Hammoud, executive director and chief operating officer at Solidere
International, which is a partner along with the Ajman government in the operating entity -- Al Zorah Development (Private) Company -- set up to develop the project.
Summary: The eight member consortium of developers is led by Saudi's Arriyadh Development and includes Lebanon's Solidere