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Al Maabar reports strong sales and progress of its Jordan projects at Cityscape Abu Dhabi

April 26, 2014 12:44 pm

Abu Dhabi-based real estate developer Al Maabar has revealed significant progress of its two landmark projects in Jordan during Cityscape Abu Dhabi, which is running from 22 – 24 April at the Abu Dhabi National Exhibition Centre.

The developer has revealed that 50 % of the residential units available for purchase at Al Raha Village in Aqaba’s Marsa Zayed have been sold, demonstrating customer confidence in the Jordanian real estate market. Al Raha Village is the project’s first residential neighborhood, located on the southern edge of the development, and is slated for completion by the end of 2015.

H.E Mr. Yousef Al Nowais, Managing Director of Al Maabar said, “Our reports show that Jordan and the UAE are highly represented in the buyer nationality mix; the progress shown on the developments and the sales figures recorded indicate tangible confidence in what we are offering investors and homeowners – both here and abroad.”

In Aqaba, the 3.2 million square meter Marsa Zayed development is well on course for the completion of the project’s first phase and is currently the largest mega mixed-use development project envisioned in the region. Marsa Zayed’s innovative development concept and world-class architecture and design have already been honored at the Arabian Property Awards for two consecutive years, in both 2012 and 2013.

One of the centerpieces of Marsa Zayed, the Sheikh Zayed Masjid, is set to be completed and delivered within the coming few months. Architecturally inspired by the Grand Masjid of Sheikh Zayed in Abu Dhabi, the Sheikh Zayed Masjid sits on the northern edge of Marsa Zayed and will accommodate 2,000 worshippers and include two main prayer halls – one for men and another for women – in its 3,890 square meters of built up area. Together, the Sheikh Zayed Masjid and Al Raha Village comprise the first phase of development at Marsa Zayed.

Preparations for Phase Two of Marsa Zayed are currently under way, a major part of which is the Minimally Invasive Surgical (MIS) Medical Center. Al Maabar signed a Memorandum of Understanding (MoU) with MIS Solutions Inc. in March 2014, paving the way for the establishment of this unique center in Marsa Zayed. Al Maabar is currently in the process of concluding the final studies with its partner, MIS Solutions Inc.

Meanwhile, in the heart of Jordan’s capital, the 126,500 square-meter development of The St. Regis Amman and The Residences at The St. Regis Amman will be completed by Q2 of 2016, and confidence in the project has been solidified with the visible progress shown on the development.

The two 17-story high towers comprising The Residences at The St. Regis Amman are the Kingdom’s first branded residences available for purchase. Already, 55% of the 79 private residences – including two-, three- and four-bedroom residences, in addition to duplexes and sky villas – have been sold, with buyer interest continuing to grow.

Al Maabar also took the opportunity at Cityscape Abu Dhabi to confirm details of The St. Regis Amman’s retail component, which will be named The District. Located on three levels of the hotel’s Podium Level, The District will house a range of luxury retail outlets, including boutiques, cafés and restaurants.

H.E Yousef Al Nowais explained, “The collaboration within Al Maabar – as well as with our host countries, is inspired by the ethos of the late Sheikh Zayed bin Sultan Al Nahyan to nurture a sustainable living in every sense. We continue to work towards creating opportunities and jobs in Jordan while also ensuring our developments harmonize with the rich cultures and treasured landscapes of Aqaba and Amman.”

For media enquiries, please contact:

Asad Abbasi
Weber Shandwick MENA
Tel: +971 2 449 4457

Mohammad Al Azzam
Weber Shandwick MENA
Tel: +971 2 449 4457