Emaar in Jordan expansion programme

Emaar in Jordan expansion programme
By Staff writer
Sat 04 Nov 2006 08:00 PM

Emaar Properties has expanded into Jordan with a luxury master-planned, mixed-use project at the Dead Sea. The property developer, now on an international growth drive, will open its Jordan office in Amman at the end of this year.

“By integrating residential, retail and leisure components, the project will not only stimulate the property market but also enhance tourist inflow and create more employment opportunities for Jordanians,” announced Mr. Mohamed Ali Alabbar, chairman, Emaar Properties. “Our goal is to increase the average stay at The Dead Sea by developing a project that creates a leisure destination,” added Mr. Steve McCartt, general manager, Emaar Jordan.

In line with the growth plans for Jordan as outlined by the King Abdullah II Fund for Development (KAFD), Emaar Jordan, along with a group of regional and Jordanian investors, have formed The Dead Sea Company that will initially develop this project.

“As a powerful development tool that works towards the overall prosperity of Jordanians, KAFD is encouraging innovative investments on a wide range of projects,” observed Mr. Alabbar. “Emaar is guided by the objectives of KAFD and will have at the heart of its business philosophy for Jordan, the interests and welfare of Jordanians.”

Emaar’s project will help Jordan in its drive to diversify from its traditional dependence on natural resources. Tourism and information technology are key growth drivers and special economic zones have given a boost to foreign direct investment.

“Riding a new wave of economic resurgence, Jordan offers immense potential for enterprises that synergize with local growth plans. Emaar’s endeavors are focused on complementing the country’s economic initiatives,” said Mr. Issam Galadari, managing director, Emaar International – Middle East and North Africa.

To date, Emaar’s philosophy of creating self-sustaining living environments has built vibrant localities that bring in ancillary enterprises and generate several job opportunities.

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