Multiforms, a subsidiary of Emaar Industries & Investments, signs AED 73.5 million deal in Jordan

The announcement came during the recent World Economic Forum (WEF) Middle East meeting held at the Dead Sea, hosting a large number of business leaders and civil society representatives.

Multiforms will invest AED 73.5 million (US$20 million; JD14.2 million) in the first phase of the development. The 50,000 sq m aluminium and glass façade manufacturing facility is scheduled to start operations 10 to 12 months from signing the agreement.

H.E. Mohammed Ali Al Hashimi, Chairman, Multiforms, signed an MoU with Jordanian Minister of Labour and Chairman of Al Mafraq Development Company, H.E. Basem Al Salem to open the advanced manufacturing unit in the Al Mafraq Economic Zone, the special economic zone launched by His Majesty King Abdullah II bin Al Hussein, King of the Hashemite Kingdom of Jordan in the Al Mafraq Governorate.

"This agreement not only marks the expansion of Multiforms regionally but also signals the enhanced co-operation between Arab economies that reflect the theme of WEF - Putting Diversity to Work," said Mr Al Hashimi. "The growth strategy of Multiforms complements the vision of UAE Vice President & Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, for UAE companies to expand regionally through effective public and private partnerships."

He added: "Al Mafraq Development Zone is one of the high-growth areas in Jordan developed by His Majesty King Abdullah II bin Al Hussein, King of the Hashemite Kingdom of Jordan to power the growth of the Kingdom's economy. Our presence in the special economic zone will complement the Kingdom's development initiatives."

Mr Firas Rifai, Managing Director, Multiforms LLC, said:

"Multiforms is focused on furthering its market reach and tapping growth opportunities, especially, in the region's booming construction sector. It is estimated that Jordan's construction sector will grow to over AED 36.7 billion (US$10 billion; JD7 billion) in the next four years. This presents Multiforms with an opportunity to share our expertise in the design, supply and installation of aluminium and glass facades in the Jordanian market."

He added: "Our aluminium and glass façade manufacturing facility in the Kingdom will also meet the growing requirements for quality cladding material in Syria, Lebanon, Turkey and other neighbouring markets. We anticipate revenues of over AED 257 million (US$70 million; JD50 million) in the very first year of operation, and we will further strengthen our presence with our second phase of expansion."

Dr Ahmad Khayyat, Chief Executive Officer, EII, said: "Multiforms has achieved an impressive 400 per cent growth in production capacity since its association with EII. As growth facilitators, EII is committed to identifying new growth markets for Multiforms. The new venture in Jordan will lend further momentum to the company and will position it as the regional leader in aluminum and UPVC fabrication and installation."

Multiforms manufactures and supplies aluminum windows, doors, curtain walling, cladding and an extensive range of advanced architectural materials. The fastest growing company in its field, Multiforms functions from a new 20,000 sq m facility in Dubai Investment Park and employs advanced technology to offer assistance in stick system curtain walling, thermally broken window and door systems, skylights, wood/aluminum window and door systems, bullet proof and bomb blast facades.