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PADICO announces a package of projects in the framework of its participation in Palestine Investment Conference

2010-06-01

Ramallah- Al Ayyam: Palestine Development and Investment (PADICO) announced its partnership with Palestine Investment Conference 2010, which will be held under the patronage of President Mahmoud Abbas under the title "Investing in Palestine: to enable small and medium enterprises", in the city of Bethlehem in the period between June 2 to 3, 2010.  In this regard, the company and its subsidiaries announced its launch to a package of projects in different economic sectors in preparation for their participation in the conference. The Chief Executive Officer of PADICO Samir Hleileh said that the Group and its subsidiaries and affiliates has completed its preparations for an effective  participation in Palestine Investment Conference, which he confirmed the launch of a package of investment projects, accounting for about one third of the total value of projects that will be presented to the Conference.  And about the projects which will involve PADICO, Hleileh confirmed that the vast majority of these projects are in real estate and housing, in which were launched by Palestine Investment Real Estate Company (PRICO) -a subsidiary of PADICO- at a cost of $135 million, comprising suburbs of housing in Jerusalem, Ramallah, Nablus and Gaza, in addition to (PRICO House 2) in Ramallah. This package also includes two projects for "PADICO Holding" in the infrastructure sector, in addition to two projects for the Al Mashriq Real Estate, and the announcement of a new investment company in the tourism sector in Jerusalem.