AMMAN, September 11th 2007: Union Land Development (ULD), Jordan's fastest growing real estate and land development company, has celebrated yesterday the inauguration of its new headquarter located between the eighth and the seventh circle, with attendance of Mr. Issam Salfiti, Chairman of ULD, and a number of officials and local and regional businessmen.
The inauguration event took place in the company's new building which was designed in compliance with the highest engineering quality standards, reflecting the company's identity and commitment to modernity and innovation. The event included a demonstration of ULD's projects and major investments.
ULD's Chairman, Mr. Issam Salfiti, greeted guests and emphasized the company's incessant development and growth which is embodied by ULD's vital projects established in line with the company's growth policies which were redeveloped last year and reflected positively in the results of the first quarter of 2007, praising the national efforts aiming at creating appropriate investment atmosphere and formation of investment encouragement laws which effectively motivated local and foreign investments in different economic sectors in the Kingdom.
ULD's diversified projects include many residential, touristic and commercial projects amongst are Zara chalets at the Dead Sea, Swefeya and Abdoun Housing project, Al Thuhair villas, Um Alkundom villas, Wadi Saqra housing project, Um Uthaina offices and Al Kursy housing project, in addition to Paradise Tower at Al Abdali, established in partnership with other three investment conglomerates. The company also invested in a number of strategic land plots in Amman and other regions of the Kingdom for future development purposes.
Mr. Salfiti concluded by thanking attendees and those who contributed to the development of ULD along the past years, emphasizing the company's persistent efforts to reinforce its leading position in the land development and real estate market and exceeding its customers' expectations.
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About Union Land Development (ULD):
Union Land Development Company (ULD) is a public shareholding company that was established in 1995, as a result of the mergence of Jordan Gulf Company for Real Estate Investments and Petra for Projects and Equipment Rentals, with a starting capital of 5 million JD.
On June 1st 2004, ULD acquired the Middle East & Commodore Hotels Company, thus increasing its capital to 7 million JD. Recently, ULD has increased its capital to 45 million JDs. ULD's major functions and services are:
I) Investment in land and real estate; developing it for various projects such as residential, commercial, tourist, recreational, and industrial.
II) Building, owning hotels operated and managed by international hotel chains.
For more information, please contact:
Ziad Qasem /Mouath Tarshihi
ASDA'A Public Relations - Jordan
Tel: +962 6 5520791
Fax: +962 6 5520792
E-mail: z.qasem@asdaa.com
m.tarshihi@asdaa.com
© Press Release 2007
