Recent Developments

§  PADICO HOLDING has completed the restructuring process internally and among affiliates. This included reorganizing the company's holdings into four principle holding companies in order to improve operational performance. 

§  PADICO HOLDING opened the Solid Waste Recycling Project in Jenin, and has prepared to open another plant in Nablus.

§  PADICO HOLDING has reopened the Jerusalem St. George Hotel, now known as the Landmark St. George Hotel, which is now operated by Landmark Hotels.

§  PADICO HOLDING opened the Al Mashtal Hotel in Gaza operated by Arc Med International, a global hotel management company from Spain.

§  PADICO HOLDING aquired 3000 dunams of prime real estate in the Jericho district, which will be the site for the new Jericho Gate multi-purpose real estate project. This is one of PADICO HOLDING’s large scale long-term strategic projects in partnership with affiliate company PALTEL Group.

§  PADICO HOLDING expanded the Nakheel (Palm Tree) Project in Jericho by way of planting thousands of date producing palm trees in addition to merging with MADICO Company, a local company that already owns palm tree plantations and a packaging and storage plant.

§  PADICO HOLDING opened a poultry slaughter house in Tulkarm and a chicken farm to supply of birds for the slaughter house under the brand name “Aziza.”

§  PADICO HOLDING completed construction of PADICO House, the corporate Headquarters for PADICO HOLDING that included the successful sale of additional spaces to a number of local and international corporate entities.

§  PADICO HOLDING initiated operations in the electronic parking stations and the Park Plaza Complex in Amman, Jordan. The complex has a shopping center and parking space serving the highly popular Sweifieh area in the Jordanian Capital.

§  PADICO HOLDING made preperations to issue the first international Palestinian Global Depository Receipts (GDRs), which will be listed on the London Exchange with the Bank of New York Mellon acting as the depository bank in charge of the GDR issuance.

§  PADICO HOLDING became the first Palestinian company to issue corporate bonds, which enjoyed tremendous demand by banks and financial institutions. The value of subscription reached USD $ 85 million, marking a USD $ 15 million surplus on top of the USD $ 70 million original initial offering.

§  PADICO HOLDING recently issued the first commercial bonds in Palestine the amount of USD 70 million.

§  PADICO HOLDING has finalized all preparations required to issue the first Palestinian GDRs to be traded on the London Over the counter market, through Bank of New York Mellon as the depositary bank.

§  PADICO HOLDING has accomplished a major part in the restructuring process, which involves merging its investments in the real estate, tourism and industrial sector under the umbrella of specialized holdings.

§  In partnership with PALTEL Group, PADICO HOLDING has established “Jericho Gate”, a real estate investment company with a paid in capital of JOD 35 Million. The new Company’s first projectm involves the developments of a total area of 3,000 dunums in Jericho city for tourism, residential and commercial purposes.

§  PADICO HOLDING has established The Palestinian Recycling Company “TADWEER”, the first company to offer specialized recycling services in Palestine.

§  The Palestinian Ministry of National Economy passed a decision endorsing the conversion of Palestine Exchange (PEX) from a private shareholding company to a public shareholding company. PADICO HOLDING plans to reduce its holdings in the PEX, and is in the process of locating strategic investors.