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Tameer enters Jordan with affordable housing (page 2 of 2)

Jordan: Wednesday, October 31 - 2007 at 13:28

The state-owned National Resources Investment and Development Corporation (Mawared) is the main developer but a number of other firms, including some from Saudi Arabia, have also become partners in the scheme.

Tameer to make its mark

Tameer Holding has emerged as one of the UAE's major real estate developers and, considering it is competing in such a furiously competitive domestic market, that fact alone shows the firm is well equipped to make a significant impression on Jordan's property sector.

Its Madinat Al Majd project may be set to take nine years to complete but it is frankly dwarfed by its involvement in the colossal $20bn Madinat Al Hanaa in Libya which will house 500,000 people and the $8.2bn AlSalam City in Umm Al Quwain which will accommodate the same number.

Recent government statistics have suggested sales of top-end units in Jordan have begun to slow up but Tameer, like several other of Jordan's real estate firms, has seen where the market is now headed and, after hooking up with the HUDC, has primarily targeted its first housing venture in the kingdom at the segment of society that needs it most.

See also:
Arabian Cement firms up its Jordanian factory plans
Jordan's real estate sector just keeps on running

Cityscape delegates study Tameer's Madinat Al Majd development

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Jonathan Sheikh-Miller, Deputy Editor
Wednesday, October 31 - 2007 at 13:28 UAE local time (GMT+4)

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