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Hulileh:"PADICO Holding" to complete the merger of its real estate and tourism companies into a holding company with capital exceeding $ 180 million

2011-01-30

Dr. Samir Hulileh, the Chief Executive Officer of Palestine Development and Investment "PADICO Holding", assured the importance of the company’s achievements regarding restructuring its investments, expecting the first and second quarters of this year to witness the completion of the final phase of restructuring its companies that operate in both real estate and tourism sectors, after the completion of restructuring of most other sectors. Hulileh - in an interview with “Al Ayyam” - considered what was implemented of investments restructuring will have positive effects on the company’s indicators during the current year, especially as the company has taken a number of measures designed to improve profits and reduce debt portfolio. He pointed out that the company"s decision of reducing reliance on income earned from investing in the financial portfolios, whether inside or outside the country, and the company’s ability to repay large loans of more than $52 million, thereby reducing the interest burdens, in addition to PADICO’s investments in companies which in turn achieved profits an good signs, these are “qualitative leaps in the level of improving the performance of the company".