Agreement between 'Shameem' and 'Sadeen Group' for projects in 'Madain' Construction and Real Estate

The company signed an agreement with Siddeen Investment Group to implement several development projects in the industrial cities of Madain with an investment value of 120 million dollars. Chairman of the Board of Directors of Hilal Bin Hamad Al Hassani, and Mr. Sadeen, Mr. Hani Salah, Chairman of the Board of Directors Group. Commenting on the signing of the agreement, M.Shammed Bin Juma Al Hudaifi, Chief Executive Officer of Shumook Investment & Services, said: "This agreement comes in line with the requirements of the development and rehabilitation of the industrial cities under the umbrella of the General Organization for Industrial Estates - Madain and providing all services to investors. This agreement provides funding for the implementation of a number of vital projects Ras Al Khaimah and Smail Industrial Cities, and Knowledge Oasis Muscat with the aim of providing comprehensive services such as offices and housing with the EPCF system which includes engineering, construction and finance. These projects will be implemented over the next three years with building areas of more than 164,000 square meters.

The General Organization for Industrial Estates - Madaen established the company for investment and services in October 2010 in order to attract strategic partnerships from a group of local and global economic entities to invest in the implementation of projects and infrastructure development in various industrial areas in the Sultanate, which will ensure the overall quality of work And life for all, through the development of infrastructure The company is seeking to create the best environment for the growth of industries in the Sultanate. Since its inception, the company has been engaged in industrial infrastructure projects (construction, operation, transfer of ownership) and geographically diversifying risks by covering all industrial cities and the needs of various sectors , As well as creating significant opportunities for local human resources to practice careers For promising through its existing projects, as well as to identify global and regional emerging sectors of industries.