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PADICO Holding sells part of its stake in Jericho Gate Real Estate Investment Company

2019-02-10

PADICO Holding Group has lately sold part of its stake in Jericho Gate Real Estate Investment Company, equivalent to 25% of Jericho Gate’s paid-up capital (JD26 million), to raise PALTEL’s stake to 75% of Jericho Gate paid-up capital. This came within the group’s plan to reallocate its investments and current assets to strengthen its profits, in addition to diversify its income sources in the short and medium terms, which helps in executing its investment plan in new projects of promising economic sectors in line with PADICO’s objectives to contribute in building and strengthening the Palestinian economy through continuing efforts to create long term developmental projects.