Housing development to be built in Aden [Archives:2005/844/Local News]

May 23 2005

ADEN-YT- An agreement was signed last week by Head of the Aden University's Housing Association, the Yemen-Gulf Company represented by Sheikh Abdulaziz Al Thani, Chairman of the company and the Watani Bank for Trade and Investment, as an intermediary between Aden University and the company.

Under the agreement, a housing development will be built for employees at the association with a total cost of $14 million.

With a three year construction period, the cost will be paid by employees in installment for seven years.

Dr. Abdurrahman Jabri Chairman of the Association said that 220 members will profit from the project, which is expected to tackle many problems facing employees since it will provide shelters for their families.

He confirmed such an important project is due to be completed after it has been awaited for a long time since the establishment of the association in 1990.