Adgeco signs Agreement with Kyeryong

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While many leading businesses and the capital of the world are rushing into the U.A.E. to join in its fast growing market, the Kyeryong Business Construction Industrial Co., Ltd. (KRC), one of the major construction and engineering companies of the Republic of Korea, is now fully operational in the country.

KRC had recently signed an alliance with the ADGECO GROUP of U.A.E. KRC is one of the top blue chip companies in Korea which has been maintaining a sustained high growth with sound financial structure and efficient business system.

KRC has been recognized in Korea to sustain a sound financial and technical foundation for a rapid growth. Its financial credibility has been classified as “Class A Company” by the Korea Credit Ratings for many years, and it has sustained the annual growth rate of over 10% for the last six (6) years.

With its efficient management skills and highly-trained engineers and technicians, KRC has achieved numerous major construction projects, which includes: The World Cup Stadium in Daejeon, Korea; rail road for Seoul-Busan High Speed Train; Subway in Daejon; housing projects in Korea and Russia for over 15,000 house holds under its original brand name “Richeville.”

In recognition of its contribution for the economy and technology in Korea, KRC has received hundreds of medals, awards, citations. To name a few, they are: The Order of Industrial Service Merit for two (2) times, Presidential Citation for Excellence in Industry, Grand Prize for Architectural Culture and Award by the Chairman of Association of Architects in Korea.

Mr. In Koo Lee, CEO and Chairman of KRC, who had served as a member of the 13th and 15th National Assembly of Korea and as the chairmen of local Chamber of Commerce and Industry, stated that entering into a business in U.A.E., is a significant step to fulfill his company’s long-cherished desire “to make good use of its experience and technologies accumulated in the past 37 years and contribute not just to its home country but to the world.” He also showed his confidence that KRC would meet the various needs of U.A.E. and play a significant role in contributing to the future of U.A.E.”

The ADGECO Group is one of the most prominent companies in U.A.E. in the field of construction business, and has been actively engaged in several major construction and real estate development projects in U.A.E.

Mr. Mohamed Dekkak, the founder, Chief Executive Officer and Managing Partner of the Group is very optimistic with this new alliance. He revealed strategy of the Group to invest in the emerging real estate market of the UAE.

ADGECO Group will benefit from the innovative experience of KRC to meet the high expectation of local and global market.