Union Land - Union Land Development Acquires 1600 Donums and Expands its Investments

Amman, July 30th, 2006: In band with its amplification action which centers on diversifying its ambit of investments, Union Land Development Company (ULD) has afresh acquired 1600 donums in Khan Zabib area, appropriately accretion its buying of acreage spaces to 1,030,830 boxlike meters - in Amman, its surrounding suburbs, southern airport area, Aqaba and the Dead Sea – amounting to a absolute acquirement amount of JD 36,754,017.

The anew acquired artifice of acreage is strategically amid south of Queen Alia’s Airport and appearance two artesian wells. ULD intends to advance the anew acquired area of acreage into 10 Dunom accoutrements to be awash individually.

ULD has afresh purchased a amount of acreage pieces in Mecca and Wadi Saqra Streets to body an appointment and retail block as able-bodied as addition area in Dabouq area six comfortable villas will be erected.

“Our investment action focuses on costs the company’s assorted projects internally and abbreviation the charge for cyberbanking loans. In addition, we aim at advancement the banknote amount of ULD’s treasury, and accretion profits that will in about-face accounts our accessible approaching projects”, said Engineer Ramzi Salfity, General Manager of Union Land Development Company.

“Our investments’ allotment decidedly accord to the costs of our absolute acreage and development projects. They armamentarium up to 40 per cent of our bartering projects, and absolutely accounts added projects such as the multi-use belfry architecture to be complete at the new down boondocks “Al Abdali” and the Holiday Inn hotel”, Eng. Salfity added.

ULD has aswell invested in the tourism area area it owns 10-20 per cent of two hotels which still beneath architecture in the Dead Sea and Tala Bay, Aqaba. The aggregation aswell owns a portfolio of stocks in Amman Stock Exchange and in non-traded companies.

“Staying up to date with the industry’s developments and customers’ anytime alteration needs is basic to every company’s success, and this is what our action centers on. We are consistently on the attending out for bazaar befalling which added grows our investment portfolio,” Eng. Salfity concluded.

About Union Land Development (ULD):

Union Land Development Company (ULD) is a accessible shareholding aggregation that was accustomed in 1995, as a aftereffect of the affiliation of Jordan Gulf Company for Real Estate Investments and Petra for Projects and Equipment Rentals, with a starting basic of 5 actor JD.

On June 1st 2004, ULD acquired the Middle East & Commodore Hotels Company, appropriately accretion its basic to 7 actor JD. Recently, ULD has added its basic to 45 actor JDs. ULD's above functions and casework are:

I) Investment in acreage and absolute estate; developing it for assorted projects such as residential, commercial, tourist, recreational, and industrial.
II) Building, owning hotels operated and managed by all-embracing auberge chains.

Mouath Tarshihi / Ziad Qasem
Asdaa Public Relations
Tel: 009625520791
Fax : 00962559271