SANA'A, (Saba)- General Authority of Investment and Naeem Holding signed on Saturday an agreement of setting up the biggest tourist project in Yemen at a total cost of $10 billion.

The project, Aden Ferdous, would be set up on an area of 16 million square
kilometers in Aden governorate. It would contain hotels, tourist
villages and resorts, barks, malls, foreign schools, a medical city,
a university, offices of international banks and companies as well as
a diplomatic quarter.

The agreement was signed by chairman of the authority Saleh al-Atar
and board chairman of Naeem Holding Abdul-Rahman al-Husaini
who also signed an agreement of the project's land with chairman of
General Authority of Lands, Survey and Urban PlanningYahya Doaid.

In a press conference, al-Atar said that the project is strategic
and would enhance tourism sector in the country .

The agreement is considered one of the fruits of the conference of
Exploring Investment Opportunities Yemen (EIOY) which was held last
April, he said. He affirmed that the authority would offer al
facilities to bring the project into success.

Al-Atar said that all designs of the project would be completed
within six months, expecting accomplishment of the project within
six years starting from the process of construction.

For his part, Naeem Holding CEO, al-Husaini, highlighted efforts
of the government to better investment climate and attract further
investments.

He said that the country has all positive factors of progress in
tourism sector, adding that the project would offer 15,000 jobs.

AH/AM