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YemenOnline >> Economic & Business

UAE builds 1000 housing units in Yemen
Construction works have started for a project of Sheikh Khalifa bin Zayed Al Nahyan comprising 1000 housing units at a cost of AED 100 million for people affected by disastrous floods in Hadramout province.

The disastrous floods and rains hit the two provinces of Hadramout and Maharah in October 2008.
800 housing units would be built from traditional mud in order to accommodate the environment and architectural heritage of the region with modern touches.

The project will complete within 16 months.

The UAE launched last year two investment projects in Yemen's Provinces of Hadramout and Maharah in tune of YR 189.7 million, rising UAE investment projects in Yemen to YR 55 billion, the Yemen General Investment Authority has said.

Total cost of UAE investment projects, most focused in Hadramout, Aden and Sana’a, surged to more than YR 55 billion and covered industrial, tourist and services sectors.

The Authority said GCC countries had 14 projects in Yemen with an investment capital of YR 113.6 billion, a growth of 86 per cent over 2008 when the investment stood at YR 60.8 billion.

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