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PRICO discloses facts that may be a logical basis for its share’s price increase

2010-06-15

In response to the memo of Palestine Securities Exchange in justification of the remarkable activity on the share of Palestine Real Estate Investment Company (PRICO), the company indicated the following facts that in its opinion may constitute the appropriate base for concentrating on PRICO’s share and the increase in its market value.

1-      The first quarter’s financial results which had been disclosed on a timely manner indicate the shareholders’ equity and the real value of the share according to the company’s assets which exceeds the market value.

2-       PRICO signed new agreements to execute several important projects such as “Days In” and “Al Reehan”, and lately it has been signed an agreement to execute the project of “Cultural Tower Palace” with a cost of $5.6 million, in addition to a group of outstanding projects that had been executed by PRICO in a good and satisfied way.

3-      Completing the operations of “Prico House” in parallel to a huge selling percentage.

4-      The company’s tending to activate its investment in Gaza which consist of group of “Chalets”, in addition to the studying the possibility of operating “Movenpick Hotel” in Gaza.

5-      The company’s announcement of its intentions to embark some vital projects such as “Prico House 2”.