Al Maabar launches its US $10 billion project in Jordan
The $10 billion Marsa Zayed project, being developed by Al Maabar Investments, was launched last month by HH King Abdullah II of Jordan
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The $10 billion Marsa Zayed project, being developed by Al Maabar Investments, was launched last month by HH King Abdullah II of Jordan and the UAE deputy prime minister and Interior Minister leutenant general Shaikh Saif Bin Zayed Al Nahyan.
The 3.2² kilometre development is the biggest mixed-use project of its kind in Jordan. The project will be implemented in several phases over 30 years with construction of the first phase expected to start in the third quarter of this year, according to a report in Gulf News Daily.
Al Maabar will develop the mixed-use waterfront project, which comprises high-rise residential towers providing 20,000 residential units, retail-, recreational-, business and financial districts and eight hotels offering 3000 rooms.
The project will be implemented in several phases once the transfer of land ownership is complete. Al Maabar said it had received the first two million square metres of land.
