29 April 2010
Zara Investment (Holding) Company held its 16th general assembly meeting. The meeting was headed by Chairman of the Board of Directors Sabih Masri, who presented the consolidated financial results for the year 2009 of Zara Investment and its subsidiaries. The chairman highlighted that the company's consolidated gross operating revenue for 2009 reached JD76.7 million, which represents an increase of 1.4 per cent over the year 2008. Consolidated net profit reached JD7 million, the second highest earnings in the history of the company.
The growth in revenue during what is considered to be one of the toughest periods for tourism worldwide is attributed to the excellent portfolio of Zara's 5-star hotels that are carefully and strategically located throughout the Kingdom, in addition to the robustness of the tourism sector in Jordan. Discussions covered the latest hotel opened and owned by Zara in Aqaba, the 306-room five-star Movenpick Resort Tala Bay Aqaba. Masri explained that the company is going full fledge in its investments in Aqaba, which include the development of Ras Al Yamaniya, a mixed-use hospitality related project planned for a prime real estate plot of land owned by Zara covering an area of 630,000 sq.m.
Zara Investment (Holding) Company held its 16th general assembly meeting. The meeting was headed by Chairman of the Board of Directors Sabih Masri, who presented the consolidated financial results for the year 2009 of Zara Investment and its subsidiaries. The chairman highlighted that the company's consolidated gross operating revenue for 2009 reached JD76.7 million, which represents an increase of 1.4 per cent over the year 2008. Consolidated net profit reached JD7 million, the second highest earnings in the history of the company.
The growth in revenue during what is considered to be one of the toughest periods for tourism worldwide is attributed to the excellent portfolio of Zara's 5-star hotels that are carefully and strategically located throughout the Kingdom, in addition to the robustness of the tourism sector in Jordan. Discussions covered the latest hotel opened and owned by Zara in Aqaba, the 306-room five-star Movenpick Resort Tala Bay Aqaba. Masri explained that the company is going full fledge in its investments in Aqaba, which include the development of Ras Al Yamaniya, a mixed-use hospitality related project planned for a prime real estate plot of land owned by Zara covering an area of 630,000 sq.m.
© Jordan Times 2010
