Al Hanoo Holding has concluded its participation in the Infrastructure Development Summit MEA, which was held at the Park Hyatt Hotel in Dubai from 11 to 13 May 2009. Various topics were discussed at the summit, including the development of real estate projects and the challenges faced by the sector. Summit participants also shared their experiences in real estate development, feasibility studies, sustainable development projects, etc.
Speaking at the summit, Shiekh Abdullah bin Fahid Al Shakrah, Chairman of Al Hanoo Holding, reviewed his company's experience in developing the Emirates Industrial City and Al Nujoom Islands projects, and the measures and steps that Al Hanoo took to complete infrastructure works for both projects despite the current economic crisis. Al Shakrah said that resuming development work on projects is essential for pushing the economy towards recovery; otherwise the economy will be caught in a vicious circle.
"The petroleum leap of the GCC markets, which has reaped huge returns for the region, produced unprecedented economic growth. And with strong economic activity came a set of legislation providing easy access for foreign investments, and continuous support for the development of infrastructure, which is considered one of the main attraction for foreign investments," said Al Shakrah.
Al Nujoom Islands is one of the biggest residential and retail projects under development in the UAE. The project, which is regarded as the northern gateway to the emirate of Sharjah, spans an area of over 60 million square feet, and is strategically located on the shores of the Arabian Gulf.
Al Nujoom Islands aims to provide luxury and lifestyle for residents and employees in the emirate of Sharjah, providing easy access to the main transport hubs connected to the emirates, and avoiding traffic jams in the process.
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About Al Hanoo
Right from the days of its inception in 1972, Al Hanoo Holding Company has been committed towards the development of the property sector in KSA and many other neighbouring countries.
Besides properties, Al Hanoo Holding Company has also founded subsidiary companies that have a strong presence in Contracting, Gas and Electricity networks installation, Agriculture, Trading, and many other developing sectors. This diversified approach is what makes Al Hanoo a pioneer and an integral facet in the economic hub of various countries in the world.
For further information, please contact:
Mustafa Al Khafaf
SAHARA Communications
Tel: +971 4 3298996
E-mail: mustafa@saharagcc.com
© Press Release 2009
