Company Lookup
عربي
Download Demo
 

Market News

This Month News

This Month News

send to a friend by email

Swiss fund invests JOD 157 million in United Arab Investor Company (UAIC) and Taameer Jordan Holdings ( TAMR)

2010-04-14

AMMAN - Leading local and international investors said on Tuesday they were hopeful a JD157 million deal between two local investment firms and a global investor would blow life into the construction sector.Yesterday, the Kingdom’s largest real estate developer, Taameer Jordan Holdings, and the United Arab Investors Company (UAIC) singed an agreement with Global Emerging Markets Limited (GEM), an international investment fund headquartered in Geneva, Switzerland, under which GEM has agreed to fund the two partners’ projects in Jordan. Taameer has been struggling to survive a financial crisis and has faced difficulties in securing loans from local banks to complete its real estate projects in the country.“We have gone through a serious crisis in the past few years, but our faith in Jordan has helped us overcome the crisis,” CEO and Chairman of Taameer Jordan Holdings Khaled Dahleh told reporters during a press conference held yesterday to officially announce the agreement.According to UAIC’s CEO Haitham Dahleh, the deal stipulates the establishment of equity-based funding that allows UAIC and Taameer to receive investment capital from GEM in exchange for tradable stocks in the respective companies.Meanwhile, the Jordan Securities Commission (JSC), the regulator, requested more information about the deal in a letter sent to both local companies, which was made available to The Jordan Times.The JSC asked the two companies to provide more information about the deal to investors in the stock market before the beginning of Wednesday’s trading session. According to Dahleh, UAIC and Taameer respectively possess sole discretion to determine the timing and amounts of the investment capital involved, based upon market conditions and funding needs.“As a result of this deal, Taameer will be able to complete its projects in the next seven months,” he added, noting that owners of housing units in the company’s real estate development projects will receive their units during 2010.An investor who is familiar with the details of the deal told The Jordan Times that “this is similar to a credit line for both companies to use when they feel appropriate”.UAIC was established in 1994 as a public shareholding company handling a diversified investment portfolio with a paid-up capital of JD147.5 million and assets valued at JD350 million. Taameer is constructing major real estate projects, including Ahl Al Azm City in south Amman, which involves 16,000 apartments and villas, along with the luxury villas project, Al Andalucia, among others. GEM’s investments in UAIC and Taameer followed its 2007 investment in Jordan Al Abyad Fertilisers and Chemicals Co. via its private equity funds VC Bank/GEM Mena Fund.


 

2017-04-26
UCI reports net income of $0.18 million in Q1 2017

2017-04-25
PSE realizes net loss of $0.27 million in Q1 2017

2017-04-25
JREI realizes net loss of $0.07 million in Q1 2017

2017-04-25
AIB reports net income of $1.55 million in Q1 2017

2017-04-25
BJP posts net income of JD0.89 million in Q1 2017

2017-04-25
WATANIYA realizes net loss of $1.12 million in Q1 2017

2017-04-25
NAPCO records net income of JD0.13 million in Q1 2017

2017-04-25
APIC approves distributing 6.06% stock dividends and 6% cash dividends for 2016

2017-04-25
APIC records net income of $3.57 million in Q1 2017

2017-04-23
PEC records net income of $3.60 million in Q1 2017

2017-04-23
TNB approves distributing 5% cash dividends for the year 2016

2017-04-23
Bravo realizes net loss of JD0.13 million in Q1 2017

2017-04-20
Medium liquidity in the quarterly disclosures and dividends distribution seasons

2017-04-20
PEC approves distributing 10% cash dividends for the year 2016

2017-04-19
TNB records net income of $2.77 million in Q1 2017

2017-04-18
BPC approves distributing 20% cash dividends for the year 2016

2017-04-18
VOIC records net income of JD1.07 million for Q1 2017

2017-04-13
Al-Quds Index declines amid anticipation elements’ overlapping

2017-04-13
TRUST approves distributing 15% cash dividends for the year 2016

2017-04-12
JPH proposes 10% cash dividends for the year 2016

2017-04-11
APC records net income of JD0.33 million in Q1 2017

2017-04-11
PIBC proposes 2.35% stocks dividends for the year 2016

2017-04-11
NSC recommends 10% cash dividends for the year 2016

2017-04-11
GUI approves distributing 10% cash dividends for the year 2016

2017-04-10
3G services in 6 months in the West Bank

2017-04-10
BOP approves distributing 2.56% stocks dividends and 10.44% cash dividends for the year 2016

2017-04-10
QUDS proposes distributing 12% stocks dividends for the year 2016

2017-04-06
Dividends approval momentum and a final agreement to run 3G frequencies in the Palestinian markets

2017-04-06
PALTEL approves distributing 40% cash dividends for the year 2016

2017-04-04
PADICO proposes distributing 5% cash dividends for the year 2016

2017-04-03
AIB approves raising its capital to $75 million and distributing 12% cash dividends for the year 2016

2017-04-02
NIC approves 20% cash dividends for the year 2016.

2017-04-02
ISBK approves raising its capital to $69 million and distributing 8.50% cash dividends for the year 2016.

 

 

 
Sahem Trading & Investments Company - PEX Member and licensed by PCMA
© All Rights Reserved 2013