Business | Investment

Al Qudra to announce share listing this year

The chairman and managing director of Al Qudra Holding, a major investment company based in the capital, said the company will make an announcement this year regarding a stock exchange listing.

  • By Himendra Mohan Kumar, Staff Reporter
  • Published: 00:21 February 4, 2008
  • Gulf News

Abu Dhabi: The chairman and managing director of Al Qudra Holding, a major investment company based in the capital, said the company will make an announcement this year regarding a stock exchange listing.

"It will definitely be in 2008," Salah Salem Bin Omeir Al Shamsi, told Gulf News on the sidelines of the ongoing Abu Dhabi Economic Forum here on Sunday.

He said Al Qudra is now looking at developing real estate projects in India as part of its overseas expansion plans.

"We haven't yet identified the sites in India, but we will be going and talking to private sector real estate developers there," said Al Shamsi.

Asked if Al Qudra had identified a particular Indian developer to partner with, Al Shamsi said: "Not yet. We will start these discussions soon."

Al Qudra has previously announced plans to develop real estate projects in Morocco, Algeria, Syria and Yemen.

"Al Qudra International is our international arm for investment outside and they are looking for several opportunities in these countries in all areas, including real estate and agriculture," Al Shamsi said, adding that any new venture will be announced only after its finalised.

He declined to give a forecast for Al Qudra's local and overseas investments in 2008. "You have to wait until 2008 ends. We don't announce before-hand," said Al Shamsi.

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