Jordan Times
Friday, April 7, 2006
Hariri, Dahabi to reveal mega-project in Aqaba on Saturday
By Mahmoud Al Abed
AMMAN — A new multibillion large-scale urban
regeneration project in the Aqaba Special Economic Zone (ASEZ) is due to be
announced on Saturday.
The project will be announced by Sheikh Bahaa Hariri, chairman of Horizon
Development Holdings, and Nader Dahabi, chief commissioner of Aqaba Special
Economic Zone Authority (ASEZA).
Both sides will sign the project's agreement in Aqaba and meet later with the
press in Amman to elaborate on the project.
No further information was available on the scheme, which is expected to be a
key addition to investments in the duty-free zone.
The project comes three months after Saraya Jordan, which is chaired by Sheikh
Saad Hariri, kicked off a $600 million wide-ranging tourism project that
includes stylish beachfront city in the heart of Aqaba.
The project is being built around a man-made lagoon, spanning approximately
610,000 square metres.
Aqaba has already attracted real estate-related investments worth $3.5 billion
since its inception in 2003, Aqaba Development Corporation Vice Chairman Emad
Keilani, whose organisation serves as the investment and executive arm of ASEZA,
announced at a press conference last week.
In addition to Saraya Aqaba, Tala Bay resort and Ayla Oasis and other major
projects, the ADC is planning an $80 million “warehouses village” project to be
undertaken by the Kuwaiti Real Estate Company and a project to develop Yamaniyeh
highlands.
In partnership with local and Arab developers, the corporation will also build
apartment towers for workers in the area.
Another plan entails the relocation of Aqaba Port facilities and the utilisation
of the vacated area for an $800 multipurpose tourism project.