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Al Qudra Holding and Saudi Bin Laden Group sign alliance for construction and industrials
Source: BI-ME , Author: BI-ME staff
Posted: Thu January 11, 2007 12:00 am

INTERNATIONAL. Aiming at supporting the massive real estate developments and construction services in the region, Al Qudra Holding and Saudi Bin Laden Group announced signing a protocol alliance to examine various investment opportunities in construction and other industry related sectors. The signing ceremony that took place at the Emirates Palace was headed by Salah Salem Bin Omeir Al Shamsi, Chairman and Managing Director of Al Qudra Holding and HE Sheikh Hassan Bin Laden Senior Vice President of Saudi Bin Laden Group.

"We are experiencing a substantial construction boom in the region, which requires advanced industrial and correlated services, and today with Saudi Bin Laden Group we are looking forward to mutual beneficial plans that will support these advancements by all means,” said Al Shamsi. “We will soon be announcing joint projects and launching a joint venture company specialising in the construction and development sector,” he said.

Al Quadra Holdings recently linked up with the South African hotel group Southern Sun Hotels for the development of a three-star hotel complex in Abu Dhabi and it is expanding in various real estate sectors.

Saudi Bin Laden Group is known for its experience in the construction, engineering, development and project operation & maintenance. The company is one of the GCC's leading contracting and project management companies that has been entrusted by both the public and private sectors.

“With this partnership, our expertise will complement each other. We are pleased to be collaborating with Al Qudra Holding, whose expertise is focused in investing in various sectors including, real estate development, BOO and BOT projects, infrastructure and services sectors,” said Sheikh Hassan.

 

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UAE. Total wealth in the GCC stood at US$ 1.7 tillion in 2014, up 4.75% from 2013; Total wealth in Saudi Arabia and UAE grew by 5%; Global household wealth up 8.3% to US$263 trillion, driven by the US and Europe, according to Credit Suisse Research Institute.
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