By Staff writer
Manazel Amman is the company's first development outside of the UAE; will include 1,600 homes
UAE-based developer Manazel Real Estate has launched a mixed-used development, Manazel Amman, located close to Queen Alia International Airport.
Manazel Amman is the company's first development outside of the UAE, it said in a statement, adding that it is part of its strategy to provide quality homes for the middle-income segment within a gated community.
Manazel Amman, which sits on half a million square meters of real estate, will include 1,600 units with a mixture of apartments and villas.
A gated community, Manazel Amman will provide security around the clock and year-round maintenance, and will include retail areas, mosques, gyms, pharmacies, a medical centre and a kindergarten.
Hassan Fahmi, Manazel Real Estate's CEO said: "Manazel Amman is Manazel Real Estate's first step in our strategic expansion outside of the UAE, and we expect strong demand from buyers at the exhibition and beyond."
He added: "Jordan is experiencing rapid population growth, and Manazel Amman provides affordable housing for residents seeking spacious living, a vibrant community and quality facilities within a gated community.
"Manazel will continue to capitalise on opportunities outside of its UAE home market that support our strategy and provide significant returns for our shareholders."
Manazel, which recently registered a 29 percent increase in net profit last year compared to 2014, said it is also focused on the delivery of its Al Reef 2 project, which consists of 860 villas located in Samha, near Kizad and Khalifa Port in Abu Dhabi.For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.