PADICO General Assembly Holds Its Thirtieth Annual Meeting

Rawabi, 7 May 2025

 

Palestine Development and Investment Company (PADICO) held its thirtieth Annual Ordinary General Assembly Meeting with a record-high participation of shareholders over the past two decades, representing 82.5% of the company’s capital, either in person or by proxy.

 

Bashar Masri, Chairman of the Board, stated: “It has been an abnormal year due to the ongoing aggression on the Gaza Strip. However, we successfully navigated these fluctuations maintaining operational stability and strengthening the resilience of our subsidiaries. Despite allocating additional provisions to cover asset losses in Gaza, PADICO ended 2024 with modest results”.

 

Masri added: “The immense challenges imposed on PADICO have only motivated us to lead development and investment in Palestine. Launching new development projects is at the heart of our work and a key part of our strategy to support the national economy,” noting that the executive management is studying several new projects in vital sectors for potential investment.

 

The meeting highlighted the key achievements and challenges of the year and included discussions of the agenda items and recommendations. The General Assembly approved the audited financial statements for 2024, discharged the Board of Directors from liability for the same year, and appointed Ernst & Young as the company’s external auditor for 2025.

 

Palestine Development and Investment Company (PADICO) is a public shareholding company that invests across several key economic sectors in Palestine, including telecommunications and information technology, real estate, finance, industry, agriculture, tourism, infrastructure and energy.