By Dylan Bowman
Jordan real estate firm to unveil second phase of Abdali New Downtown.
Jordan’s Abdali Investment and Development on Tuesday said it will unveil the second phase of its redevelopment of downtown Amman at next week’s Cityscape expo in Dubai.
The Abdali New Downtown real estate project is one the kingdom’s largest mixed-use development projects, spread out over an area of 44.7 hectares.
The $3 billion project will include residential apartments, office space, commercial and retail outlets, as well as entertainment and leisure facilities.
The second phase of development covers an area of 14.7 hectares and will feature mid to high-rise buildings, luxury residences, offices, hotels, commercial entertainment, as well as private parks.
Once complete, the second phase is expected to house around 40,000 residents and accommodate 50,000 visitors a day.
Phase I of the project is scheduled for completion in 2010 and phase II in 2013.
Abdali said the construction progress in phase I, the make up of which is similar to that of phase II, is well underway and that 80% of developers are currently undergoing substructure works and 50% are scheduled to start concrete works by the end of the year.