Al Maabar International Investments, a joint venture between Abu Dhabi’s largest property companies, will invest Dh36.7 billion (US$10bn) into a property development in Jordan at a time when major projects across the region are being scaled back.
Marsa Zayed, a 3.2 million square kilometre mixed-use development along the waterfront of Aqaba in the south of Jordan, will be the largest property and tourism project in the country’s history. The project is named after the late Sheikh Zayed, the founding president of the UAE.
Al Maabar bought the land from the government of Jordan last year for $500 million. The land will be handed over in June and construction will begin in the first half of next year.
No comments:
Post a Comment