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Wednesday, 25 November 2009 16:55 UAE time

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Sharjah firm plans $500mn Yemen developments

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Sunday, 23 March 2008
CAPITAL INVESTMENT: Emirates Investments said it would build residential and commercial units, as well as a hotel, in Sanaa. (Getty Images)
CAPITAL INVESTMENT: Emirates Investments said it would build residential and commercial units, as well as a hotel, in Sanaa. (Getty Images)

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

The developments will be located near the capital 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)

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