His Majesty King Abdullah Bin Hussein of Jordan, today, graced the unveiling of a true-to-type model of Samarah Dead Sea Golf & Beach Resort, a JD354 million (US$500 million; AED 1.84 billion) mixed-use development by The Dead Sea Touristic and Real Estate Investment Company, formed by Emaar Properties PJSC and several regional investors.
His Majesty King Abdullah II was also briefed by Mr Alabbar on the salient features of Samarah, developed in line with the vision for the Kingdom as envisaged by the King Abdullah II Fund for Development, and the growth potential it offers to the local economy.
The event was held on the sidelines of the World Economic Forum Middle East meeting held in Jordan to highlight the importance of diversifying Arab economies.
"Emaar is aligned to the development vision of His Majesty King Abdullah II, whose initiatives have strengthened the Kingdom's economy and makes it an ideal destination for significant investments," said Mr Alabbar. "We are thankful to His Majesty King Abdullah II for inspiring us to share our development expertise, which in turn, has been achieved through the far-sighted policies of His Highness Sheikh Mohammed, UAE Vice President & Prime Minister and Ruler of Dubai."
He added: "Sheikh Mohammed has moulded Dubai into a regional hub through his focus on a diversified economy led by high-growth sectors such as information technology, industries, finance, real estate and construction. Emaar epitomizes the growth momentum of Dubai, and it is our privilege to be in Jordan, a key emerging market that is powered by the King Abdullah II Fund for Development."
Samarah Dead Sea Golf & Beach Resort is located along the coast of the Dead Sea and is the pioneering mixed-use, master-planned project in Jordan. The project will further strengthen the tourism initiatives of the Kingdom by serving as a world-class residential, commercial, leisure and retail environment.
"The project will lead to faster economic growth by generating employment opportunities for Jordanians, creating several ancillary industries and lending support to the tourism sector," said Mr Alabbar.
Samarah Dead Sea Golf & Beach Resort features several hundred luxury apartments and villas, advanced commercial facilities, a full-fledged golf course and club house, retail outlets and several entertainment options that will appeal to a cosmopolitan audience.
Emaar International Jordan is the wholly owned country subsidiary of Emaar Properties, and highlights its geographic expansion strategy to achieve its Vision 2010 of becoming one of the most valuable companies in the world.
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Emaar International Jordan unveils model of JD354 million Samarah Dead Sea Golf & Beach Resort
- United Arab Emirates: Sunday, May 20 - 2007 at 14:08
- PRESS RELEASE
At a high-profile ceremony held at the Samarah Dead Sea Golf & Beach Resort Sales Centre, His Majesty King Abdullah II witnessed the unveiling of the model of the project by Mr Mohamed Ali Alabbar, Chairman, Emaar Properties.
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About Emaar Properties PJSC:Emaar Properties PJSC is one of the world's largest real estate companies and is rapidly evolving to become a global provider of premier lifestyles. Powered by its Vision 2010 to become one of the most valuable companies in the world, Emaar is charting a new course of growth with a two-pronged strategy of geographical expansion and business segmentation.
Replicating its successful business model in Dubai, Emaar is extending its expertise in creating master-planned communities to international markets. Emaar is also developing new competencies in retail, hospitality and leisure, education, healthcare, finance and industry, which have evolved from its integrated approach to customer service and property development.
Listed on the Dubai Financial Market, part of the Dow Jones Arabia Titans Index and certified to ISO9001:2000 for quality standards, Emaar is developing Burj Dubai, on its way to become the world's tallest tower, and The Dubai Mall, one of the world's largest shopping and entertainment destinations. In Saudi Arabia, Emaar is developing King Abdullah Economic City, the region's largest private sector-led project. Emaar's portfolio currently covers the following countries: the UAE, Saudi Arabia, Jordan, Syria, Lebanon, Morocco, Egypt, Turkey, Libya, India, Pakistan, Indonesia, the US, the UK, France and Canada.
An award-winning developer, Emaar has strengthened its product sale competencies, market reach and best practices through strategic acquisitions and joint ventures. Emaar acquired John Laing Homes, America's second largest privately held home builder; Hamptons International, UK's premier realtor; and formed a joint venture with US-based Turner International to strengthen execution capabilities.
Emaar has joined hands with Giorgio Armani and Accor Hotels to strengthen its presence in hospitality, and will launch ten luxury Armani resorts and hotels world-wide and 100 Formule 1 budget hotels in India. The company is opening educational institutions and healthcare centres in South Asia, Middle East and North Africa and the Subcontinent. Emaar acquired Singapore-based leading education provider, Raffles Campus, to extend expertise to its educational institutions.
Emaar holds 30 per cent equity in Dubai Bank, focused on retail and commercial banking. Emaar is also the largest shareholder in Amlak Finance, UAE's leading Islamic home financing company.
For further information, please contact:
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Posted by Lara Lynn Golden, News EditorSunday, May 20 - 2007 at 14:08 UAE local time (GMT+4)
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This article was updated on Sat Jun 23 2007.
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