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Sat 4 Jun 2005 04:00 AM

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US $1 billion Metropolis starts

Al Hamad starts work on new hotel development in Jordan.

Al Hamad Contracting has started work on the first phase of the US $1 billion Royal Metropolis in Jordan.

The Gulf Finance House (GFH) project will be developed in partnership with the Greater Amman Municipality.GFH chairman Dr Fuad Al Omar said: “We look forward to the continued encouragement of the Government of Jordan for the development of this major infrastructure project that they have given us.

“The Royal Metropolis project has been conceived as a significant development that will enhance the flow of inward investments into the country.”

Fuad said this, adding that this project will add value to Jordan’s economic proposition to overseas investors.”Jordan Gate, which is the first phase of the Royal Metropolis project is going to be a futuristic development comprising two high-rise towers connected to a shopping mall and a services area.

Built on an area of around 28 500 m2, these buildings will together encompass a built up area of approximately 220 000m2.

Jordan Gate will provide prime office space for international companies keen to set up base in Jordan and will come complete with proper security and building management systems. It will also offer conference facilities, an ultra-luxurious five-star hotel along with an array of retail outlets.

The development, built at a prime location at 6 Circle in Amman, will occupy the highest point in the city and upon completion will be visible from every part of the capital. Al Hamad, which has its headquarters in the UAE, is the development partner on the project while Hilton International will be appointed to operate the hotel component of the project.

GFH chief executive Esam Janahi, said: “GFH has an ongoing working relationship with Al Hamad and we are confident that they are the ideal partners to develop a project of this magnitude and complete it within time. Al Hamad has built a strong reputation for adhering to project deadlines and observing optimum levels of safety, two crucial factors for the success of the project.”

Al Hamad is also the main contractor for the first phase of GFH’s US $1.3 billion Bahrain Financial Harbour. GFH is also developing the $750 million Al Areen project and the $3 billion water front community project - the two seas. It is also investing in the $3.8 billion Legends.

Earlier this month GFH announced that it had concluded an agreement with KFIC to be the strategic partner for the development of Jordan Gate and Royal Village, a key component of the second phase of Royal Metropolis - the districts.

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