Jordan to build $1bn hotel

475-room luxury hotel operated by Hilton Hotels, will be co-developed by Onix Investments
The ancient city of Petra is the regions biggest tourist draw
By Massoud A. Derhally
Sun 10 Mar 2013 02:54 PM

A $1bn 475-room luxury hotel operated by
Hilton Hotels, will be co-developed by Onix Investments and Koni Konsultants,
both from Singapore and Koni Group of Orlando, in Jordan, the Jordan times
reported.

The hotel will be located at the southeast
corner of the airport highway in the capital Amman and the first phase of
construction will cost around $350m, the newspaper reported.

Construction of the hotel will create about
5,600 jobs in the kingdom, according to the newspaper. No information on how
the project will be financed was provided.

Jordan's tourism industry which accounts
for about 7 percent of gross domestic product has suffered as a result of the
protests that have swept the Arab world over the past two years and in
particulr the violent conflict in neighbouring Syria.

Though the total number of visitors to the
country fell by 7.3 percent in 2012 to 6.3m, total receipts increased 15.3
percent in the year from 2011, adding US$3.47bn to the economy, according to
official government figures. The kingdom aims to increase tourism revenue to
JD4.2bn annually by 2015.

Jordan's economy is projected to expand to
about 3.5 percent this year from 3 percent last year, according to
International Monetary Fund estimates.

Jordan’s new Queen Alia International
Airport terminal, being built by a group of companies that include Airport
International Group (AIG), will start operating on March 21, and increase
capacity almost threefold, CEO Kjeld Binger told Arabian Business last month.

 The
kingdom’s new terminal will increase capacity from an annual 3.5m passengers to
9m and with next phase of expansion climb to 12m, Binger said.

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