Jordan Times
Tuesday, November 29, 2005
MAWARED launches Madinat Al Sharq in Zarqa
By Mohammad Ghazal
AMMAN — The National Resources Investment and
Development Corporation (MAWARED) along with several major national companies
launched on Monday the largest plan for an urban project in the Kingdom.
Dubbed Madinat Al Sharq, the project is divided into six construction phases,
the first of which covers 250 hectares or 10 per cent of the 2,500 hectares
total area.
Previously known as the Zarqa New Garden City, Madinat Al Sharq is a mega real
estate project that will provide housing for 500,000 inhabitants by the year
2025.
MAWARED General Manager Akram Abu Hamdan told a press conference that the scheme
will replace the military camps in Zarqa with a new comprehensive residential
city to be built according to international standards and served by a huge
network of commercial, cultural, entertainment and public facilities.
The commercial environment will include offices, restaurants, shops, open
commercial plazas, recreational areas and other supporting facilities.
“The choice of Zarqa for constructing the city is due to the fact that the
capital is packed. In addition, the scheme is designed to spread Zarqa's dense
population and consequently ease the overburdened infrastructure,” Abu Hamdan
said.
According to Abu Hamdan,”the prices of the housing units will be affordable by
limited-income people since the lands are owned by the treasury.”
“Besides, the prices will be similar to the prices of the housing units in the
Zarqa City,” he remarked.
Local companies contributing to the project along with MAWARED are Al Qabas Real
Estate Development Co., Madaen Al Nour Real Estate Investment and Development
Co., the Land Investment Co. and the Development and Investment Projects Fund.
“The contribution of these companies highlights MAWARED's keenness to have the
private sector involved in its development projects,” Abu Hamdan said.
Among the facilities to be constructed will be Bab Al Madina, a gateway to the
commercial heart of Madinat Al Sharq.
The souq, which is easily accessible via public transport and pedestrian
streets, offers new and diverse retail outlets, including dining, entertainment
and cultural facilities.