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Union Land Development Announces Execution of Al Abdali Tower and investment in Aqaba's South coast  Join our daily free Newsletter

MENAFN Press - 01/05/2006

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Union Land Development (ULD), one of Jordan's leading real estate companies announced plans for upcoming housing and commercial projects including Al Abdali Tower, at the annual General Assembly Meeting, held at Union Bank last Saturday 29th April 2006. Members of the General Assembly were also given a demonstration on the new Union Land Development corporate identity, launched last month as part of the company's testament towards the Kingdom's development and growth.

Engineer Ramzi Salfity, General Manager of ULD company announced that ULD will implement Al Abdali Tower consisting of 34 floors in cooperation with "Union Investment Company" and "United Arab Investors Company", as well as commence work on various housing and commercial projects in Amman and other areas.

The company will also invest in the south coast of Aqaba in cooperation with "Zara Company". In order to ensure premium service as well as efficiency, the company has established two new departments including a specialized Marketing Department to promote ULD projects in the Kingdom and a post sales service department to provide maintenance.

"We aim to cater to different classes in the Kingdom by developing social stratum specific projects and making sure we accommodate citizens with limited incomes. We also hold in high regard the architectural designs used in our projects in order to make sure that the Kingdom's skyline maintains its aesthetic significance," Eng. Slafity said.

Essam Salfiti, Head of Board of Directors stated that ULD is self sustaining and depends on its revenues to finance its projects, utilizing a well studied mechanism to control its costs and cash flow.

During the GA meeting, stakeholders discussed the feasibility of the presented projects and the annual report with the Board of Directors.

As a testament to its success, ULD has managed to raise its capital from JD15 million to JD45 million over the last year. The company specializes in land investments, real estate development and execution, and is involved in commercial, industrial, agricultural and tourism projects as well as hotel management.


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