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Munib Al Masri: the BOD of PADICO will discuss a series of proposed projects in Gaza in its next meeting


Munib Al Masri the Chairman of the Board of Directors of Palestine Development & Investment "PADICO Holding" assured that the company gives a considerable attention to reactivate investment activity in various projects in the Gaza Strip, particularly reconstruction projects, water projects and related projects that provide employment opportunities. Al Masri pointed out that during his visit to Gaza that was accompanied by the Chief Executive Officer of PADICO Dr. Samir Hleileh on Thursday and Friday, had seen many of the projects of PADICO and its subsidiaries and associates, noting that the processing of Al Mashtal’s project the “Movenpick Hotel” had finished, and the Spanish team that will be running the hotel is expected to arrive today to Gaza before the opening that is expected to be during the first quarter of this year. The hotel consists of 225 rooms and is estimated to cost about $ 40 million, where have been completed recently in preparation for start running through the next two months. Al Masri cleared out that he had seen during his visit the functioning of the “Chalets project” that is located in front of the hotel in question, and also viewed Gaza industrial zone project. He stressed out that despite the suspension of the industry wheel in the industrial zone because of the blockade and the continuous occupation prevention to raw materials introduction and products export, but the company is keen to continue its role in the industrial zone and to develop and maintain the continuity of services, in addition to maintaining all staff. Al Masri stressed the importance of activating the various efforts of relevant authorities to put pressure on the Israeli side in order to re-open the Gaza crossings in both directions and provide an opportunity for the productive sectors to export their products abroad as a priority. He called through a series of meetings held in Gaza with political and economic leaders to focus on promoting the economy of Gaza in response to the occupation policy in ignoring the international situation demands to lifting blockade, stressing in this context that the call for the reconstruction and reconciliation requires that to be ranked first in the hierarchy of interests of various political, economic and social development parties.


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