Marsa Zayed: Abu Dhabi's Al Maabar launches $10 billion Aqaba development

[asb63]

Amman, February 26th, 2009:
Abu-Dhabi-based Al Maabar International Investments has announced the development of Marsa Zayed, a $10 billion real estate investment in Aqaba, through its subsidiary the Al Maabar Jordan Real Estate Development Company.
The announcement took place at a gala dinner held last night under the patronage of Jordanian Prime Minister Nader Dahabi, who was joined by Al Maabar's chairman Ahmad Ali Al Sayegh, vice-chairman Mr. Saeed Eid Al Ghafli and managing director Mr. Yousef Al Nowais. Also present was the Chief Commissioner of the Aqaba Special Economic Zone AuthorityAqaba Special Economic Zone AuthorityAqaba Special Economic Zone Authority
Marsa Zayed, named in memory of the Late Sheikh Zayed Bin Sultan Al Nahyan, is a 3.2 Km² development including 2 Km of waterfront and is the biggest real estate and tourism project to take place in the history of Jordan. It is also one of the most significant developments in the region.
Al Maabar will develop a mega mixed-use waterfront project, including high-rise residential towers, retail, recreational, entertainment, business and financial districts and several branded hotels. Several marinas will add to the current berthing capacity which will transform Aqaba into a premier yachting destination; in addition to a state-of-the-art cruise ship terminal, which will become one of Jordan's touristic landmarks and a welcoming gateway to Aqaba.
The project will be implemented in several phases once the transfer of land ownership is complete. Phase one of construction will commence by the first half of 2010 following the completion of the land survey and a series of technical studies which are currently taking place in coordination with Aqaba's local Authority, ASEZAASEZA.
In 2008, Al Maabar signed an agreement with the Government of Jordan whereby the company acquired 3.2 million Sqm of land in Aqaba for $500 million for the development and establishment of a mixed-use residential, tourism and commercial project. The government's handover of the land will be carried out in three phases; the first to take place by June of this year, the second in September while the third and final phase by March 2013, once the new ports are built in southern Aqaba.
"Al Maabar is committed to delivering added value to its partner countries. This is achieved through job creation, stimulating economies and the development of local skills and capabilities. We take great pride in our partnership with Jordan and are very confident that this relationship will only strengthen as Marsa Zayed becomes a landmark project and a major economic stimulus for the Kingdom", said Al Nowais.
He added that, "The name Marsa Zayed was selected collectively by His Majesty King Abdullah, His Highness Sheikh Khalifa Bin Zayed and His Highness Sheikh Mohammad Bin Zayed Al Nahyan in memory of the Late Sheikh Zayed Bin Sultan Al Nahyan of the United Arab Emirates."


"Today we celebrate the announcement of one of the most successful and exceptional projects in Aqaba, which strengthens the already outstanding brotherly relations between Jordan and the UAE," said the Chief Commissioner of Aqaba Special Economic Zone AuthorityAqaba Special Economic Zone AuthorityAqaba Special Economic Zone Authority
Al Maabar was established in 2007 as a joint venture between Abu Dhabi's six leading investment companies: Mubadala, Al Dar Properties, Sorouh Real Estate, Reem Investments, Reem International and Al Qudra Holdings , with several projects underway in the Gulf Region, Middle East and North Africa.
Al Maabar International Investments is a joint venture between Abu Dhabi's five leading real estate developers:
The company aims to raise the profile of Abu Dhabi's real estate sector on the world stage, with a mission to become one of the UAE's most distinguished global investment enterprises.
Al Maabar develops landmark property developments throughout the Middle East, North Africa, Europe and Asia. These developments are designed to add real value to the host country through job creation, talent development, knowledge transfer and economic stimulus.

Source

[lealfonse]

Wow thats a huge project, lets hope this project well really happen because many huge project like ayla oasis and The horizon development which cost 10 billion dollar that is own by hariri didnt really happen. Seriously what happen to ayala oasis project

[yazm1991]

aqaba is going to be one hell of a destination once all these mega projects are finished

[Chrisel]

KEO to deliver $10billion Jordan project
Wednesday 01 Jul 2009

worldarchitecturenews.com

KEO International Consultants has announced that it has won a six month Program Management contract from Al Maabar, the Abu Dhabi based International real estate development investment company, to work on Aqaba’s $10 billion Marsa Zayed development. Al Maabar’s landmark project, which is the largest development to take place in the history of the region, stretches over a 3.2 sq km of prime real estate in the port’s city of Aqaba, Jordan’s sole maritime gateway.

Groundbreaking for this historic project is scheduled in early 2010 and with over 6 million sq m of built-up area, it is the largest tourism project in Jordan’s history. Named in memory of the Late Sheikh Zayed Bin Sultan Al Nahyan of the United Arab Emirates, the development will include high-rise residential towers, retail, recreational, entertainment, business and financial districts and several branded hotels. Several marinas will significantly add to the current berthing capacity and will help transform Aqaba into a premier yachting destination. There are also plans for a state-of-the-art cruise ship terminal, which will be designed as a contemporary tourist landmark and a welcoming gateway to Aqaba.

Commenting on the contract award, Al Maabar’s CEO, Mr Abdallah Hageali, said: “Our Marsa Zayed project is one of the most significant projects under development in the region. A project of this scale will act as a major economic stimulus and its impact will not only be felt in Aqaba but also throughout Jordan and the wider region. “We have awarded this contract to KEO International Consultants because their vast experience and professionalism will help guarantee the success of this iconic development,” he added.

In addition to providing program management for the Marsa Zayed project, KEO will also be responsible for master planning, landscape design, infrastructure design, marketing, promotion and validation, feasibility studies, traffic and environmental impact assessments, design reviews and cost related services.

[Ras Siyan]

Wow, this is huge! If it gos that way, Jordan will dramatically change. Go Urdun!

[midotoria]

great project

[Thunderbolt]

Thanks Chrisel for the update..I was wondering if this project was ever going to take-off! With this project, Tala Bay, Saraya Aqaba, Ayla Oasis, and other ventures including major five-star hotels, no wonder everyone wants a piece of Aqaba.

[yazm1991]

ASEZA approves ‘conceptual master plan’ for Marsa Zayed

The Aqaba Special Economic Zone Authority (ASEZA) has approved the final “conceptual master plan” submitted by Al Maabar Jordan Real Estate for Marsa Zayed Project, Hosni Abu Gheida, ASEZA’s chief commissioner said Monday.

Imad Kailani, the chief executive officer of Al Maabar Jordan Real Estate, the local subsidiary of Abu Dhabi-based Al Maabar, indicated that the project’s engineering and technical studies have been completed in addition to the environmental impact assessment and the roads and traffic effect surveys.

“The company will start construction of the project’s first phase during the third quarter of 2010,” Kailani pointed out, expecting the operation of the project by 2014.

“Soon we will set a date to lay down the foundation stone of the project,” Kailani remarked.

Valued at $10 billion, Marsa Zayed is the largest single project in Jordan’s history.

It entails building retail, recreational, entertainment, business and financial facilities, as well as residential towers and several branded hotels.

After completing construction of the project in two to five years, the site will house seven hotels with a capacity of 3,000 rooms, in addition to 20,000 housing units including villas and apartments and a yacht dockyard with a capacity of 350 yachts, according to Al Maabar Jordan Real Estate.

The project is expected to create 16,000 job opportunities, Abu Gheida said.

Marsa Zayed will develop 3.2 million square metres of land with a two- kilometre seafront area, the company stated.

The company has already appropriated 3,200 dunums of the Aqaba Port area to start implementation of the project.

Marsa Zayed, which was announced earlier this year, is significant for both its massive size and timing. It is being unveiled amidst a slowdown in the real estate market, according to Oxford Business Group.

[lealfonse]

Posted: 14-03-2010 , 06:39 GMT

Yousif M. Al Nowais, Managing Director of Al MaabarUpon a visit to Jordan, and during his meeting with senior Jordanian officials, Mr. Yousif M. Al Nowais, Managing Director of Al Maabar, highlighted the latest developments and future plans in the first phase of Marsa Zayed project in Aqaba. The project, which is the largest and most significant real estate and tourism project in Jordan’s history and one of largest in the MENA region, is considered of high importance to Al Maabar and the Jordanian Government.

Between 2010 and 2014, Al Maabar will be developing the first phase of the Marsa Zayed project, as well as, the entire Abdoun project in Amman. The total development value of both these initiatives over the next 4 years is USD 500 million.

Underlining the overall accomplishments to date, Mr. Al Nowais announced that 2 million square meters of an overall 3.2 million square meter plot have been handed over. The remaining 1.2 million square meter area is still occupied by the Aqaba Port facilities and it is anticipated to be received for redevelopment in 2013.

The Managing Director of Al Maabar added that the groundbreaking of Marsa Zayed will be take place in a few months and the date will be announced soon. The work in the first phase of the project will commence in the third quarter of 2010 with construction phase set to be completed by mid-2014. This phase includes the start of infrastructure works on approximately 300 thousand square meters of land and the development of a 35-story mixed-use tower including apartment space in one location in addition to 240 residential apartments, 130 town houses and the Sheikh Zayed Mosque in another. The latter will accommodate, upon completion, 2,000 people.

“The Marsa Zayed project will further enhance the brotherly relations between Jordan and the United Arab Emirates,” said Al Nowais.

The $10billion development, named in memory of the UAE’s Late Sheikh Zayed Bin Sultan Al Nahyan, has been designed as a mega mixed-use waterfront project, which includes 2Km of prime waterfront, will include a number of high-rise residential towers, retail, recreational, entertainment, business and financial districts and several branded hotels. It will also include a state-of-the-art cruise ship terminal, and several marinas that will help transform Aqaba into a premier yachting destination.

Al Nowais commended the exceptional level of collaboration that Al Maabar has been receiving from Aqaba Special Economic Zone Authority and all governmental entities in Jordan. He stressed the importance of continued constructive collaboration and facilitating the processes for guaranteeing smooth execution phases within specified time frames.

Furthermore, Al Nowais gave an update on the progress on Al Maabar’s project in the area of Abdoun, in Amman. The Abdoun Project consists of a luxurious hotel, fully-serviced residential apartments, and retail shops. The project is set for completion in 2013.

© 2010 Mena Report (www.menareport.com)

[yazm1991]

Cheers for the news. Great to hear the project has not been cancelled.

[asb63]

Aqaba invites expressions of interest in port job


CW Staff , March 16th, 2010

RELATED ARTICLE: Al Maabar: Marsa Zayed work to start in Q3; KEO gets nod from Al Maabar for Aqaba contract

Aqaba Development Corporation (ADC) has invited companies to submit an expression of interest (EOI) for the construction of marine works at the New Port of Aqaba.

The job is the first in a series that will help ensure the new port is ready by its 2013 deadline, the date by which the site of the existing port must be handed over to a property developer, Al Maabar.

"The New Port of Aqaba will replace the existing main port facility and is an integral part of ADC’s transport master plan to transform Aqaba into a leading multi-modal logistics gateway for the Levant region on the Red Sea," said Shadi Ramzi Majali, CEO of ADC.

"The new facilities will significantly increase the flexibility and cargo handling capacity for the only sea-gate of Jordan, stimulating economic growth as a result of the improved access for goods to the Jordanian market and as a strategic transit point for the Iraqi re-construction initiatives.

"Local and International firms are being invited to jointly submit the documentation in order to demonstrate their capability to undertake the initial phase of the New Port of Aqaba," Majali added.

ADC is stipulating that overseas firms bid as part of a JV, with local firms owning at least 25% of each JV.

This "will not only ensure that Jordan’s domestic construction sector is actively participating in projects of national importance, but should ensure competitive pricing and a robust mix of relevant experience within the consortia," said Majali.

The site of the current port is being turned into a beachfront leisure and tourism destination called Marza Zayed.

[yazm1991]

Originally Posted by asb63

Aqaba invites expressions of interest in port job


CW Staff , March 16th, 2010

RELATED ARTICLE: Al Maabar: Marsa Zayed work to start in Q3; KEO gets nod from Al Maabar for Aqaba contract

Aqaba Development Corporation (ADC) has invited companies to submit an expression of interest (EOI) for the construction of marine works at the New Port of Aqaba.

The job is the first in a series that will help ensure the new port is ready by its 2013 deadline, the date by which the site of the existing port must be handed over to a property developer, Al Maabar.

"The New Port of Aqaba will replace the existing main port facility and is an integral part of ADC’s transport master plan to transform Aqaba into a leading multi-modal logistics gateway for the Levant region on the Red Sea," said Shadi Ramzi Majali, CEO of ADC.

"The new facilities will significantly increase the flexibility and cargo handling capacity for the only sea-gate of Jordan, stimulating economic growth as a result of the improved access for goods to the Jordanian market and as a strategic transit point for the Iraqi re-construction initiatives.

"Local and International firms are being invited to jointly submit the documentation in order to demonstrate their capability to undertake the initial phase of the New Port of Aqaba," Majali added.

ADC is stipulating that overseas firms bid as part of a JV, with local firms owning at least 25% of each JV.

This "will not only ensure that Jordan’s domestic construction sector is actively participating in projects of national importance, but should ensure competitive pricing and a robust mix of relevant experience within the consortia," said Majali.

The site of the current port is being turned into a beachfront leisure and tourism destination called Marza Zayed.

Great news! Cant wait for this project to be completed

[lealfonse]

Cityscape's Platinum sponsor showcases key updates on landmark projects in Jordan, Morocco and Libya

Abu Dhabi, 17 April 2010: Al Maabar, one of the region's most innovative and intelligent real estate developers, will be taking centre stage as Platinum sponsor at Cityscape Abu Dhabi 2010, unveiling its new corporate identity and showcasing the latest updates of its well-considered, dynamic global investment projects.

Now established for over two years, Al Maabar already has a reputation for creating real excitement in the global real estate market with milestones being met on time and within budget. In addition to ongoing building works in Libya and Morocco, groundbreaking of the USD 10-billion, exquisitely master-planned waterfront mega-development, Marsa Zayed in Jordan, will be announced imminently, along with new projects being explored for 2011 and beyond.

During Cityscape Abu Dhabi 2010, Al Maabar will also launch its new corporate identity that brings to life the company's vision of shaping contemporary yet authentic destinations across the globe by partnering with local governments, communities and developers within the framework of a modern forward-thinking business model.

The new brand strategy looks to further develop Al Maabar's distinguished reputation abroad, while cementing its position as the face of Abu Dhabi in the international real estate arena and as a driving force in the economic diversification sought for within the Abu Dhabi 2030 Vision. Buoyed by the sound reputation of the Emirate and the support of the six leading real estate and investment powerhouses within it, Al Maabar is exporting a wealth of expertise and experience beyond its borders to implement positive change.

Mr. Yousef M. Al Nowais, Al Maabar Managing Director, commented, "We are proud to be a key sponsor of Cityscape Abu Dhabi 2010 which is a testament to the strength of Abu Dhabi's cultural and financial position in a challenging global marketplace."

"Al Maabar derives its strategies and success from the heritage, culture and values of Abu Dhabi which sets us apart as a leading partner for growth; an impressive feat during the current economic climate. It is immensely rewarding to see building already in progress in Libya and Morocco; intelligent developments based on economically-viable and sustainable platforms which will ignite the economic potential of these countries for commercial partners and local communities alike. In 2010, I look forward to seeing our Jordan projects move into the next stages of development, and also announcing new and globally important projects."

The new Al Maabar website, www.almaabar.com, brings to life the new brand strategy, showcases the considerable milestones already achieved and reaches out to new potential investors across the world. Al Maabar continues to value further opportunities for providing more creative, efficient and beneficial solutions to their current host countries, and in new markets and regions. Whether through joint venture, as in Morocco and Libya, or through full ownership such as in Jordan, Al Maabar operates alongside visionary leadership from governments, plus world renowned experts in design and construction to drive the success of every project undertaken.

Project Updates

Marsa Zayed, Jordan

Al Maabar will soon be announcing the ground-breaking of its USD 10-billion, exquisitely master-planned waterfront mega development, Marsa Zayed in Jordan. It is the biggest real estate and tourism project to take place in Jordan's history and is expected to create 15,000 job opportunities. The project exemplifies a robust business plan, based on a considered approach to all projects to ensure minimal risk and full leverage of profit opportunities, and for maximum rates of return on all of our developments. The first phase of Marsa Zayed is set to be completed by 2014. The remaining phases will be completed over a period of 30 years.

Bab Al Bahr, Morocco

Bab Al Bahr is iconic mixed-use destination located in Rabat, Morocco. The project, which is being developed by Al Maabar in partnership with L'Agence pour l'Amenagement de la Vallee du Bouregreg, includes high-end residential, retail and hospitality components. The development also contains several museums and a carefully landscaped green spine which spans the length of the development. Encompassing the Moroccan government's vision to redevelop the entire Bouregreg Valley where the river meets the Atlantic Ocean, the USD800 million project will occupy a primary location encapsulating of the archaeological treasure and local heritage sites. While striving to safeguard the heritage and original architecture of the area, Al Maabar has exceeded expectations on the commercial level, with over 40% of the Bab Al Bahr residential units open for sales last February already having been sold.

Al Waha, Libya

With the needs of the local market in mind, and by taking inspiration from Libya's rich cultural heritage, Al Maabar is developing its USD375 million mixed-use development in Tripoli, Libya. The project is a 50/50 JV between Al Maabar and LIDCO and includes commercial, hospitality, retail and residential components. The masterplan reflects certain elements intrinsic to Libyan culture, such Ghadamis, an ancient oasis town located in West Libya, the artistic mosaic style covering the outer façade of The Towers and Libya's oases, dramatically recreated in the form of idyllic water features and lush verdant surroundings. The project's residential, retail, hospitality and entertainment units will be operational by 2012, accommodating approximately 6000 people to work and live inside the community.

Abdoun, Jordan

Al Maabar has announced the planning of its new Jordanian project in the capital Amman. The multi-use Abdoun project is set to become a fashionable, luxurious and contemporary 'must-visit' landmark destination in Amman, with high-end shopping centres, world renowned restaurants and exclusive leisure facilities. Planned for completion in 2013, Abdoun Project will include a luxurious hotel, residential apartments equipped with high level services, and retail areas set for leasing in addition to educational and financial services. Construction is planned to commence by mid-2010.

-Ends-

About Al Maabar

Al Maabar is a partnership between Abu Dhabi's six leading real estate and investment powerhouses - Mubadala Development Company PJSC, Aldar Properties PJSC, Sorouh Real Estate PJSC, Al Qudra Holdings PSC, Reem Investments PSC and Reem International LLC. Al Maabar is the region's most innovative and exciting property development company and is quickly earning a reputation for considered, intelligent developments that are designed to regenerate communities and ignite economic potential.

Rooted in the heritage, culture and values of the Abu Dhabi, Al Maabar is creating exciting destination developments that work in harmony with local heritage and environments and add real value to the communities their serve.

Numbering the country's leading organizations amongst its shareholders, there is no doubting Al Maabar 's economic and political credentials which, combined with their respectful and forward thinking attitude, uniquely qualify them to create exciting, sustainable developments that will prosper and thrive.

Al Maabar Jordan recently signed an agreement with the Jordanian government to develop Marsa Zayed, a $10 billion real estate project in the Red Sea City of Aqaba.

For all media inquiries, images or further information, please contact:
Mohamed Salhab
Hill & Knowlton
00971 50 554 8209

© Press Release 2010
from Hill & Knowlton

http://www.zawya.com/Story.cfm/sidZA...0Dhabi%202010/

[lealfonse]

Abdoun, Jordan

Al Maabar has announced the planning of its new Jordanian project in the capital Amman. The multi-use Abdoun project is set to become a fashionable, luxurious and contemporary 'must-visit' landmark destination in Amman, with high-end shopping centres, world renowned restaurants and exclusive leisure facilities. Planned for completion in 2013, Abdoun Project will include a luxurious hotel, residential apartments equipped with high level services, and retail areas set for leasing in addition to educational and financial services. Construction is planned to commence by mid-2010.

-Ends-

By the way Guys, do you know anything about the Abdoun Project? They said the construction will be started at this coming year together with the Marsa Zayed project in Aqaba. It does not say whats the name or the picture is......
Any Ideas guys......

[MASRI]

Wow!

Beautiful project! Aqaba is beautiful, and this will attract even more tourism.

Plus, I like the name of the project: Marsa Zayed. Reminds me of Marsa Alam in Egypt. Personally, I like the similarity in the name.

[asb63]

[yazm1991]

Cheers for the video.

[amman]

It's about time Amman gets a sister city with a sky line.

[lealfonse]

With this kind of project, Aqaba will overtake Eilat very easily.