Abdali New Downtown surpasses $3bn mark as new expansion takes off

Pushing the overall land area to 447,000 sqm and the investment value of the project to over $3bn, this move will cater for the strong demand of major investors, who have confirmed this venture as a solid and sustainable development.

"Jordan today is an emerging market with a clear vision set by His Majesty King Abdullah II to turn the Kingdom into one of the most sought after investment destinations in the region,"

stated Mr. Itani.

He added, "Our decision to unveil Phase II at Cityscape 2007 comes from our conviction that the exhibition is a key meeting point for major investors looking for opportunities in the region."

Envisioned with a central green park across 30,000sqm of land, in its midst serving as a focal theme for both residential and commercial developments, the new expansion phase of the Abdali project will be developed over a land area of 146,729 sqm adjacent to the land plot of Phase I and with a total built up area of 730,000sqm comprised of 430,000 sqm (BUA) of residential space, 246,000 sqm (BUA) of commercial and retail space and 58,000 sqm (BUA) of hotel space. Phase II, with its private parks and green areas, mid to high-rise buildings, high-end luxury residences, modern offices, hotels, and state-of-the-art commercial entertainment areas will come as a natural complimenting expansion for Phase I. The infrastructure is set to commence during Q1 of 2008 with an aim for completion & site delivery by Q3 of 2009.

Mr. Jamal Itani, CEO of Abdali Psc said: "Living among lavish green spaces, working in an advanced and vibrant environment, a splendid experience of retail and entertainment, alongside an unparalleled lifestyle and moving views of the city of Amman, this is a vision which Abdali aims to deliver to every visitor and resident of the Abdali New Downtown. The expansion of the Abdali project comes in line with the company's goal of contributing to position Amman as one of the worlds' most advanced business, retail, and luxury destinations, and to present investors and visitors alike with an unmatched experience of urban life."

The market research and feasibility study for component and land use determination of the expansion phase were conducted by world renowned Ernst & Young. Meanwhile, the design has been thoroughly planned by Laceco International, to complement the foundations and concepts set in Phase I, which aim to create a thriving future city-center in Amman and a modern architectural landmark in the region.

The infrastructure for the Abdali extension is similar to the one applied in first phase whereby a 'smart city' will be developed converging media and telecom infrastructure to enable the delivery of state of the art technologies to each and every home, office and outlet, while offering district energy solutions (district heating and cooling across the entire project) and central gas systems to guarantee a sound and friendly environment in addition to the large savings in energy cost. The downtown will be fully equipped with technologically advanced building management systems, fire protection systems and security management & provision, and an additional 9,000 parking spaces will be developed in Phase II raiding the total parking capacity within the new downtown to accommodate over 25,000 vehicles.

Phase II of the Abdali project has additionally ensured the creation of superior road networks and traffic solutions around and within the development, to enable the smooth flow of around 40,000 Residents and 50,000 Visitors expected daily once the project is fully functional. The traffic solutions within the project will be developed by Abdali, while the Greater Amman Municipality will execute the works outside the project grounds, cooperating to facilitate easy and efficient traffic flow in the area.

Upon the completing of the construction of the Abdali new downtown development, Phase I in 2010 and Phase II in 2013, it is expected that the project will greatly influence various domains through introducing the 'smart living' concepts for the first time in Jordan. The anticipated effect will tap lifestyle, business, retail, tourism and shopping activities. Furthermore, the Abdali new downtown is projected, once completed, to create over 15,000 job opportunities, and to offer thousands of employment vacancies for Jordanians during its construction.

The construction progress in Phase I of the Abdali project can now be witnessed in the Abdali downtown, with over 80% of the developers currently undergoing substructure works and 50% are scheduled to start their concrete works by end of year. With such progress, Phase I of the Abdali project is on the right track to meet its completion date of 2010.

The Abdali urban regeneration project accounts as the largest project in Amman, the capital of Jordan, in terms of its magnitude and impact on the various sectors and activities. Through its collaboration with renowned multinational developers, it has created a core hub and city-center which offers the highest level of technology and a foundation for future business and investment opportunities. Amid the wave of developments rising in Jordan, the new downtown has witnessed admiration and encouragement from key influencers at both the public and private levels. The new downtown of Amman, Abdali, is strongly and solidly positioned as "the future business district of Jordan" and has had the official endorsement by the Mayor of Amman, and the government.