Sharjah firm to invest $500m in Yemen

 

 

Sharjah-based Emirates Investments Group said on Sunday it would invest $500 million (Dh1.8 billion) in two property projects in Yemen.

 

The developments will be located near Sanaa and will provide residential and commercial units, in addition to a luxury hotel, Emirates Investments said in a statement.

 

Construction on the projects is due to begin in the second half of 2008, the statement said, citing Salah al-Attar, the head of Yemen's General Investment Authority.  (Reuters)