Hydra denies Qatari real estate JV talks
Dubai, November 18, 2008
Hydra Properties, a leading UAE-based real estate company, has dismissed media reports stating that it had set up a partnership/JV with Wall Investment and Real Estate Development, a Qatar-based real estate investment firm.
The company denial comes after some Qatari and Jordanian newspapers and a few media sites reported that Hydra had formed a joint venture with Wall Investment and Real Estate Development.
A statement from Hydra Properties said company CEO Dr Sulaiman Al Fahim had earlier met Dr Nasser Shahir Homoud, the Qatari firm’s CEO and United Nations Ambassador of Goodwill, to discuss initiatives to support a number of UN humanitarian programs.
The meeting revolved around the corporate social responsibility scheme and no agreement or alliance pertaining to conducting business or seizing investment opportunities in the region was forged with Wall Investment, the company statement said.
However, Wall Investments did present a number of property development project ideas to Dr Al Fahim, which he promised to take into consideration, it added.-TradeArabia News Service
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