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King Opens Big Jordan Project
Arab News

AMMAN, 29 June 2007 — Custodian of the Two Holy Mosques King Abdullah and King Abdallah of Jordan yesterday jointly opened a huge residential-city project named after the Saudi ruler as a mark of appreciation for his support to Jordan.

The function was held at the Basman Royal Palace in Amman. The residential project sprawls over an area of 21 square kilometers comprising 70,000 residential units with an ability to house over 370,000 people. Both kings watered an olive plant indicating the project’s formal opening, the Saudi Press Agency reported.

King Abdullah, who arrived in Jordan on a two-day visit on Wednesday, held talks on bilateral ties and regional issues with focus on developments in Palestine, Lebanon and Iraq. Amman is the last stop in King Abdullah’s six-nation tour, which took him to Morocco, Spain, France, Poland and Egypt......

The Jordanian business community welcomed Abdullah’s visit to their country. Chairman of Jordan’s Chamber of Industry Hatem Halawani said that the trip is likely to reflect positively on Jordan’s industrial sector. “We expect the visit to boost Saudi investments in Jordan and hope that joint projects between the private sectors in both countries will be implemented as a result of the visit,” Halawani said.

He added that Saudi investments in Jordan exceeded 850 million Jordanian dinars at the end of the first five months of this year, while in 2006 Saudi investments in Jordan represented 31 percent of the total number of projects in the country. According to a survey by the Jordanian-Saudi Economic Forum in April, joint ventures in Saudi Arabia stood at $787 million, with the Jordanian share constituting 33.4 percent.

Saudi Arabia is also the sixth largest market for Jordanian exports, and is among the eight major sources for Jordan’s imports, former Chairman of the Amman chamber of Commerce Othman Bodeir said in a press statement......
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