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Amman, Jordan, 2008/09/29 - The Aqaba Development Corporation (ADC), the central development body for the Aqaba Special Economic Zone (ASEZ) is the Gold Sponsor of Cityscape Dubai 2008, the world’s largest property investment and development event.
The Aqaba Development Corporation (ADC), is the Gold Sponsor of Cityscape Dubai 2008, the world’s largest property investment and development event, that will take place between the 6th and 9th of October, 2008 at Dubai International Exhibition Centre.
Together, 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 in Aqaba.
Eng. Imad Fakhoury, ADC’s CEO stated, “ADC will be participating in Cityscape Dubai for the unique opportunity the event presents to showcase the attractive real estate investment environment in Aqaba and the investment opportunities available for Arab and International investors alike.” He went on to say, “This world renowned exhibition will also give us the chance to share experiences with region’s main real estate developers.”
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.
Fakhoury added, “Aqaba has attracted a large number of tourism and residential projects and Mansion Hills is a project that we indeed are very proud of. As the central development body of ASEZ, our goal is to successfully and efficiently implement the Master Plan for the Zone.” He added, “As of today, ADC has succeeded in attracting $11 billion worth of real estate investments to Aqaba.”
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 (adc.jo) provides investment opportunities for both Arab and international 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.