Business

Jasoor Al-Kheir Co. to invest $20 billion in ‘Janat Aden’ project

National Yemen

Chairman of Josoor al-Kheir and chairman of General Investment authority at the press conference in Sana'a

By NY Staff

At a press conference held last week at Sana’a’s Movenepick Hotel, Josoor Al-Khair Company Chairman Jammal Salem Bakheshwain expressed his company’s excitement at having agreed to invest more than $20 billion in the establishment of the Janat Aden Project. Janat Aden refers to a group of Islands that are planned to be constructed over a 25-million meter area.

“The project will be completed in ten years’ time and would consist of hotels, chattels, villas, towers, artificial lakes, business centers, gardens, factories and  other facilities,” said Bakheshwain.

The project will offer employment opportunities and give more than twenty countries the chance to work in the project. 75% of the project will be available as a public share stock, thereby enabling citizen investors to be directly involved.

“The project’s launch will encourage increased investment and will serve the national economy by reviving ambitious goals for the new Yemen,” said Bakheshwain.

Dr. Yahya Saleh Husein, Chairman of the General Investment Authority, said the country was witnessing an increased number of investors and that Janat Aden represents an important project at the present time. Husein added that more than 112 projects had been registered in the first half of 2012.