Jordan Dubai Capital, SSC’s investment unit to construct complex in Dibbeen, Jordan

AMMAN — Jordan Dubai Capital (JDC) and the investment unit of the Social Security Corporation (SSC) agreed on Sunday to construct a JD100 million comprehensive tourism complex in Dibbeen. According to a memorandum of understanding signed by the two sides, the project will be implemented by a tourism and real estate investment company that will be established by both parties. Samir Rifai, chief executive officer of JDC, told reporters that construction on the 500-dunum area will start by the end of this year and is expected to be completed within three years. Besides convention halls, chalets, entertainment facilities and therapeutic clubs, the project comprises five-start hotels which will have 500-bed capacity. “The project is one of the mega investment projects in the northern part of the country and will largely contribute to the improvement of living standards of people residing in surrounding areas by opening several job opportunities that would alleviate unemployment and poverty,” said Rifai. He estimated the project would create 500-750 job opportunities. The JDC chief stressed that besides promoting tourism in the country, the project will preserve the environment and forests. Commending the project as it will greatly benefit citizens, Mufleh Akel, chairman of the SSC’s investment unit, said the project will reflect positively on the national economy by creating job opportunities and enhancing tourism in Jordan. “The creation of this company is likely to elevate the country as a regional centre for tourism. In addition, it will enhance the situation and living standards of citizens in the area and reflect positively on their lives,” Akel told reporters. To ensure that the project preserve the environment and the forests in the area, a memo was also signed between the JDC and the Royal Society for the Conservation of Nature (RSCN). Under the memo, the RSCN will provide the company with consultations and methods to preserve the environment and the forests while implementing the project, RSCN Acting Director General Yehya Khalid said. The memo obliges the company to abide by the environmental laws and standards and to carry out a study to assess the environmental impact of the project,” Khalid added. “It is the first time that we are partners in an investment project and this helps us guarantee the protection of environment and forests,” he remarked. The JDC also signed a memorandum of understanding with the Jordan River Foundation (JRF), whereby the two parties will prepare training programmes for citizens of the area to qualify them to work in the jobs created by the project. “Under the memo, the JRF will train citizens from the area on developing handcrafts and starting small ventures to benefit from this project,” JRF Director General Maha Khatib said. “The JRF will work on developing the capabilities of local communities in the project’s area by training them to be qualified to fill the jobs that arise from the project,” she added. JDC, which is a newly formed $300 million company affiliated to the Dubai International Capital will implement other projects in the country during this year, Rifai concluded.

Monday, May 8, 2006