Tanmiyat pledge to protect all staff from axe

Saudi-based real estate, investment company says it will also deliver all projects on schedule.
Tanmiyat pledge to protect all staff from axe
By Andy Sambidge
Wed 07 Jan 2009 06:44 AM

Saudi-based investment and real estate development company, Tanmiyat Group, has announced that all of its projects will be going ahead and that it has no plans to lay off any of its employees amid the global financial crisis.

Company chiefs said they were confident that they would be able to cope with the current market slump.

Abdullah Al Majed, vice chairman of Tanmiyat Group, said: "The global economic crisis that is looming large over us all has had a profound effect on various markets throughout the world.

"At a time like this, we feel it is vitally important to maintain productivity, not only for the sake of boosting our clients' and investors' confidence, but also to ensure that the jobs and futures of our employees are safeguarded."

Tanmiyat Group's projects in the Middle East real estate sector include the Living Legends in Dubailand, the Commercial Heights project in Dubai's Business Bay and the $3bn Ajman Marina development.

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