News Archive

NREC confirms its continued strategic partnerships in both Egypt and Libya

01 - June - 2011

The Chairman and Managing Director of NREC, Mr. Jamil Sultan Al-Essa, explained that NREC continues to closely follow the events taking place in Egypt and Libya, as these important markets hosts two major projects; Palm City Residence in Libya and Grand Heights in Egypt.

He also stated that one of NREC’s main objectives is to be open to investing in regional markets with particular focus on the Arab world, where the company has built strategic partnerships with several countries, including Egypt and Libya. Mr. Jamil reiterated that NREC is confident that the citizens of these two countries will overcome the difficulties they are facing and that stability will return.

Mr. Jamil also confirmed that the action plans for each of these vital projects are still ongoing according to their approved schedules, and that the company is providing reassurance to investors that their properties are not affected and all signed contracts are still binding.