Ex-Arabtec CEO eyes development in UAE, KSA, Qatar Former Arabec chief executive ******r Hasan Ismaik is likely to return to the UAE's property market. Currently the chairman of Jordan's Capital Housing, Ismaik reportedly an**unced plans to raise $423.1m (JOD300m) to develop properties in the UAE, Saudi Arabia, Qatar, and Egypt, besides the company's existing work in Jordan. “Financial bodies and businessmen from the UAE, Saudi, Qatar and Jordan have expressed interest in investing in the company and contributing to its capital increase to meet our planned expansion needs,” he is reported to have said, as per The National. “The company will be opening an ****** in the UAE, where we are interested in investing in the real estate sector in Abu Dhabi and Dubai, especially as the real estate market in the UAE is one of the world’s leading and most lucrative, thanks to laws and regulations that promote investment," Ismaik added. Ismaik said Capital Housing will consider listing itself on one of the UAE's share markets in the future. Arabtec's deal with Egypt's Ministry of Housing was agreed upon during Ismaik's reign as the Emirati contractor's CEO. Ismaik departed Arabtec in June 2014, following which the employment of some of his managerial appointments was terminated, as were some projects launched by Ismaik. RELATED ARTICLES: Arabtec-says-**-progress-on-Egypt-homes-project , Arabtec-execs-to-convene-in-Egypt-for-40bn-deal , Ismaik-ready-to-sell-remaining-Arabtec-shares ,
09-08-2015, 03:44 PM
Ex-Arabtec CEO eyes development in UAE, KSA, Qatar
Former Arabec chief executive ******r Hasan Ismaik is likely to return to the UAE's property market. Currently the chairman of Jordan's Capital Housing, Ismaik reportedly an**unced plans to raise $423.1m (JOD300m) to develop properties in the UAE, Saudi Arabia, Qatar, and Egypt, besides the company's existing work in Jordan. “Financial bodies and businessmen from the UAE, Saudi, Qatar and Jordan have expressed interest in investing in the company and contributing to its capital increase to meet our planned expansion needs,” he is reported to have said, as per The National. “The company will be opening an ****** in the UAE, where we are interested in investing in the real estate sector in Abu Dhabi and Dubai, especially as the real estate market in the UAE is one of the world’s leading and most lucrative, thanks to laws and regulations that promote investment," Ismaik added. Ismaik said Capital Housing will consider listing itself on one of the UAE's share markets in the future. Arabtec's deal with Egypt's Ministry of Housing was agreed upon during Ismaik's reign as the Emirati contractor's CEO. Ismaik departed Arabtec in June 2014, following which the employment of some of his managerial appointments was terminated, as were some projects launched by Ismaik. RELATED ARTICLES: Arabtec-says-**-progress-on-Egypt-homes-project , Arabtec-execs-to-convene-in-Egypt-for-40bn-deal , Ismaik-ready-to-sell-remaining-Arabtec-shares ,
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