 Amman - Abdali district
from 2006:
Construction work on the Jordanian capital’s largest property development will begin this month, the developer overseeing the $1.5 billion project said. Abdel Munem Nahar, a senior executive at Abdali Investment and Development PSC, said foreign Arab and local investors, who have bought 51 sites in Amman’s new downtown business district, are expected to begin laying foundations between now and the end of the year.
Many GCC investors are spending hundreds of millions of dollars on Jordan’s buoyant real estate market, on prime sites in the capital, the Dead Sea and the Red Sea port of Aqaba where demand is expected to be strong.
The Abdali project is a 50-50 joint venture between Jordan’s largest property investment firm, state-owned Mawared, and Saudi-based Oger group which is owned by the family of late Lebanese Prime Minister Rafik Al Hariri.
Infrastructure work on the 480,000 square meter development, which will include 10 towers, an American University and convention centre, is already complete.
Most of the investors, which range from real estate companies to finance houses, are foreigners, reflecting heightened outside interest in the country’s property market. | 
11th February 2007, 16:57
Linear Mode
