CAIRO: A new electronic platform featuring tools that will create an interactive environment on the internet is expected to change the way people do e-commerce, online advertising and social networking.
Mohamed Haddad, the initiator of the project, said: “The project is not just a platform that changes the way we interact online but also is a low risk, high returns investment tool that represents the first Arab innovation on the internet.”
Under development for the past two years by research and management firm ByLaw Consultants, the platform is the result of inter-related scientific studies on marketing strategies, economy, finance, management, engineering and information technology.
According to a statement, ByLaw Consultants in conjunction with KPMG built an investment structure for the project which expects returns of more than 267 percent by issuing a limited number of shares for a private joint stock company to be offered through global investment houses to increase the capital to AED 257 million ($70 million).
The project will be implemented in 62 countries, and will be managed by more than 1,300 people working out of 12 offices around the world, the statement read.
“The project is present in multiple technology areas including electronic communications, which plays a pivotal role today and will remain so in the future,” the statement read.
The company is drafting the final details of agreements for strategic alliances with major international information technology companies to take part in the implementation of the global infrastructure.
“The project has strong technical infrastructure that can help individuals and companies to launch their ideas or projects easily, quickly and successfully and we welcome the cooperation with them,” Haddad, who heads more than 15 companies operating in several disciplines and projects, added.