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Abdali Investment and Development forms Abdali Communication Company PSC
- Jordan: Monday, March 26 - 2007 at 16:30
- PRESS RELEASE
The creation of the Abdali Communication Company Psc (ACC) is now official. The newly founded company is owned by Abdali Investment and Development Psc, which holds 50 per cent of the shares, and Mr. Ali Shukri and International Data Exchange (Cyberia Jordan) who equally own the remaining 50 per cent of the shares.
ACC will be responsible for developing the complete set of advanced communications services in Abdali, the new Downtown for Amman. The project has an investment cost of 20 million USD (JD14.2million), which includes all equipment to be installed inside the buildings, homes and offices, and the infrastructure that is already developed in the project.
As the first company in Jordan and the region to have Triple Play ready infrastructure for the provision of telephony, Internet and video services through fibers going into the heart of the homes and offices, ACC will provide services that include basic Telephony, Internet, TV and security services, as well as more advanced communication services such as Video calling and Video conferencing, Video On Demand (VoD), IP Centrex (soft PBX), e-learning, and other services in the future. This will transform the new Abdali downtown into a haven of state-of-the art technology.
Mr. Jamal Itani emphasized the importance of this technological stride by stating: "The formation of ACC comes in line perfectly with our vision to prepare the ground for the unique telecommunications business opportunities in the project, consistent with Abdali Psc's pursuit for cutting edge technology and for providing services of international standards. ACC, with its Triple Play ready infrastructure, will allow for unprecedented technological services, and will allow Jordan as a whole to benefit from Abdali's vision of a smarter Urban Lifestyle."
ACC's use of Triple Play infrastructure, which will be designed by the world's leading suppliers, offers major cost advantages, since Triple Play integrates Internet access, telephone and TV in a single network, whereas traditional telecom services require two to three separate ones.
Mr. Imad Ayoub, CEO of Cyberia Holdings said: "Our contribution to Abdali promises to be an excellent platform for the launching of our broad range of technology in Jordan. We are proud to share in this great adventure and in the vision of Abdali, whose philosophy has always been in close accord with our own, that of reaching far beyond ordinary expectations and striving for excellence in all that we do."
Through the services that ACC will provide to the new Abdali downtown, the city will be able to provide its tenants and visitors with a smart urban lifestyle matching those of the greatest capitals of the world. Abdali is noted for the seamless integration it accomplishes on the various lifestyle components within the urban centre.
Most recently, it has partnered with Tabreed in a multimillion dollar deal to create Jordan District Energy, which will deliver fast, ultra-convenient heating and cooling to the whole of the area.
The huge investment that Abdali is putting into every detail and every aspect of the new Downtown is a testament to the unrivalled spirit that drives this whole venture and is set to give rise to a harmonious city, cosmopolitan and international in character, with all the demands of modern living fulfilled in a breathtaking setting.
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Notes and media contacts
ABOUT ABDALI INVESTMENT AND DEVELOPMENT PSCAbdali Investment and Development PSC is a land-development private shareholding company established in Jordan though the successful public-private partnership between the National Resources Investment and Development Corporation (MAWARED), a government owned investment corporation and Oger Jordan, a Jordanian a subsidiary of Saudi Oger Ltd., an international construction conglomerate specialized in investment and development of large scale real estate and construction projects. A strategic partner has since followed, United Real Estate Company, under the group of Kuwait Projects Company (Holding) - KIPCO, bringing a wealth of experience as one of the premier investment companies in the Middle East and North Africa region with substantial interests in real estate and management advisory service.
ABOUT ABDALI URBAN REGENERATION PROJECT
Comprising an area of 350,000m2 of prime land, the Abdali development area is the largest contiguous, single-owned, vacant plot in the centre of Amman, opportunely bordered by King Hussein street to the north, Nabulsi Street to the south, the existing Parliament building to the east and Queen Noor Boulevard to the west; and is surrounded by more than 25 banks and financial institutions, 16 public institutions, 12 major hotels, 9 major hospitals in addition to numerous clinics and medical centres, 4 commercial centres and key civic landmarks of the city.
The new downtown will be developed by Abdali PSC as well as local & regional investors with a commitment to creating this unique and sophisticated mixture of public and private usages.
Contact:
Abdali Psc
Luna Madi - Marketing Manager
Jo Chemali
Manning Selvage & Lee (MS&L)
Communication Director Levant
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