launching of solidere international ltd
SOLIDERE announces the establishment of SOLIDERE INTERNATIONAL LTD in Dubai International Financial Center (DIFC) with a share capital of US $700.05 million. SOLIDERE’s equity percentage from the 11 millions shares of the new Company is 37.2%. SOLIDERE INTERNATIONAL LTD had completed successfully a private placement to raise US$ 700 million and to bring-in new investors and strategic partners.
SOLIDERE INTERNATIONAL LTD object is to undertake different real estate activities all over the world, with a special focus on the Middle East region, the Mediterranean countries and North Africa.
SOLIDERE INTERNATIONAL LTD shall rely, in all its activities, on the high level of expertise in the fields of development, finance and management, which were acquired by SOLIDERE through its activities and achievements over the last 12 years. This had allowed ‘SOLIDERE’ to become a renowned and distinguished international name in real estate development.
SOLIDERE INTERNATIONAL LTD, in partnership with the Government of Ajman, started a large development project in the Emirate of Ajman (UAE) on a surface area of 12 million sq m, 25 minutes away from Dubai International Airport. The Master Plan of the region stipulates the establishment of an urban land-use mix encompassing residential, office, commercial, entertainment and hotel buildings, in a strategic location distinguished by long white sandy beaches and mangrove plantation, rich with a variety of fish and other marine life, which will be conserved and integrated within the project.
SOLIDERE INTERNATIONAL LTD has also started works on two development projects in the vicinity of Cairo- Egypt, the first located west of Cairo, in the Sheikh Zayed area, and covering 1.2 million sq m, and the second occupying 850,000 sq m of land in the Kattamiyah location, east of Cairo. Both projects aim at creating a mixed-use urban area of residential, office, leisure, hotel and serviced apartment buildings.
SOLIDERE INTERNATIONAL LTD is also preparing for other urban projects in the southern part of Turkey, the Kingdom of Saudi Arabia and other countries, and is in the process of studying and assessing upcoming development projects in other parts of the world.
