“AMAAR GROUP was incorporated in May 2009 as the Palestine Investment Fund (PIF) real estate and hospitality holding arm with assets under management of around USD 150 million. In the next five years, the Group is intended to lead a real estate program with a value of over USD 2 billion including the PIF’s National Affordable Housing Program that aims at developing 30,000 new housing units throughout Palestine. Other projects include the Ersal Center in Ramallah with an investment outlay of USD 400 million, the new Nablus Handicraft District with an investment outlay of USD 25 million and several future initiatives in Jerusalem and other Palestinian Governorates. The Group also holds several residential and tourism portfolios including Al Reehan Real Estate Investment Company with an investment outlay of USD 200 million, the Grand Park Hotel in Ramallah, Jacir Palace–Intercontinental Hotel in Bethlehem, Hanadi Tower in Gaza, Al Mashtal for Tourism Investments Company in Gaza, Convention Center Palace in Bethlehem and SAMA for Property Management”