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Amman, Jordan, 2008/09/28 - The Aqaba Development Corporation will participate in Expo Real 2008, as part of a delegation representing Jordan that includes the Aqaba Special Economic Zone Authority (ASEZA) and the Greater Amman Municipality - Munich, Germany, 6- 8 of October.
The Aqaba Development Corporation (ADC) will participate in Expo Real 2008, as part of a delegation representing Jordan that includes the Aqaba Special Economic Zone Authority (ASEZA) and the Greater Amman Municipality. The exhibition will take place in Munich, Germany between the 6th- 8th of October.
ADC and the Aqaba Special Economic Zone Authority (ASEZA) will be participating in the event with the aim of marketing the ever-growing real estate sector in ASEZ, promoting the investment opportunities available in the sector and shedding light on the major ongoing real estate projects and the sector’s achievements in the last few years and attracting new investments to the coastal city of Aqaba.
Eng. Imad Fakhoury, ADC’s CEO stated, “Since its establishment, ADC has taken significant and strategic steps as the central development body of ASEZ to support various economic sectors, which play a role in placing ASEZA as the focus of regional and international attention, which falls in line with His Majesty King Abdullah’s vision and contributes to achieving the main objective of the Zone, which is to transform it into an important investment destination on the Red Sea.”
Since established in 2004, ADC attracted significant investments in the real estate sector. Recently ADC signed an agreement with Al Ma’abar International (UAE) to develop the location of the main port in Aqaba and the surrounding area. The total value of this project is expected to exceed US $ 5 billion. The project will create at least 15,000 job opportunities and will contribute to transforming the Northern Corniche of Aqaba coastline into a leading tourism and business destination on the Red Sea.
In addition, ADC signed an agreement with Taameer Jordan Holdings to develop a tourist city known as the ‘Mansion Hills’ at an investment value of more than US $ 2 billion. The project will be established on more than 2.5 million m² of land and will include housing complexes with high quality features and services, hotels, chalets, residential units, shopping centers, an aqua park along with all supporting services.
Among the other real estate projects that ADC attracted are Saraya Aqaba Project, one of the biggest tourism and real estate developments in the Zone at a cost of more than $1 billion and the Ayla Oasis Tourism Project, one of the largest comprehensive and multi-purpose tourism projects in the Kingdom that is expected to change the face of Aqaba by an additional 17 km of new shore. The total cost of this project is estimated at US $1.4 billion.
Al Yemeniya Heights is another significant part of the developmental plan for ADC. It will include housing and tourism projects, university villages and a media city. ADC and in partnership with private sector is committed to transforming Al Yemeniya Heights into a major tourist attraction on the southern shore.
ADC provides investment opportunities for investors in current and newly established master-developments in real estate, tourism, commercial, logistics, industrial and multi-purpose real estate developments. In addition, the newly finished master plan for King Hussein International Airport offers a range of airport-related real estate development opportunities.