Taameer Signs LOI with the Gov of Venezuela for $2.4B USDTaameer announced today the signing of a letter of intent with the Government of Venezuela for the construction of low income housing project in the State of Aragua.  The new district will be called Ezequiel Zamora and will include 13,912 housing units for a projected population of 54,000.  The project will include 60 educational facilities, 28 medical facilities and other facilities for a complete city environment.  The project will be 5 years in duration and expected to start in January 2017.  

The LOI was signed at the Presidential palace under the patronage of President Nicolas Maduro by Mr. Manuel Quevedo the Minister of Housing in Venezuela and Mr. Haitham Al Terawi a member of the Board of Taameer.  It is expected over the coming weeks to finalize commercial and financing terms before signing the final contract.  Also present were representatives of M2 Emmedue and Delos.  Jamie Foxx, Actor and Environmental Activist, was also present to encourage the participation of Delos and its objectives. 

Taameer will be appointed as project supervisor and manager and will set up an office in Caracas and Aragua.  Along with Taameer, it is envisioned that Emmedue of Italy and Delos of the US will be integral partners in this project.  Emmedue is an innovative anti-seismic and insulating building system allowing for quick, affordable and sustainable building process.

Delos has become the world leader in providing standards and solutions for interior environments that can enhance the health, well-being and productivity of occupants. 
As promised earlier, Taameer’s Board of Directors will continue to pursue all avenues to bring shareholder value in this project and others in the region and internationally.



















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