Taameer Jordan Holdings places foundation stone for its 'Ahl Al Azim' project in Jiza

The foundation stone was placed during a ceremonial event attended by the Prime Minister of Jordan His Excellency Mr. Nader Al Dahabi, members of the Jordanian Government, Board Chairman of Taameer Jordan Holdings, Mr. Khalid Dahleh and others.

During the event's proceedings, Mr. Dahleh explained that Ahl Al Azim will be designed to serve over 84,000 Jordanians and that it is to be constructed in accordance with international standards of excellence to include around 16 thousand housing units and a multitude of services.

Elaborating further on the reasons behind Taameer Jordan Holdings' decision to develop this project, Mr Dahleh said, "Ahl Al Azim housing initiative was launched to respond to His Majesty's vision for providing high quality housing for individuals with mid to low income. "Through this project we strive to provide this segment of the community with housing that complies with the highest standards of development. Developing the local community and raising living standards should be at the top of our priority lists whether we are members of the Jordanian work force or owners of companies and this is the main objective we strive to achieve through this project launch."

Mr. Dahleh further added that the project was originally named Al-Jiza housing project. The name change however came into effect as a reflection of the Jordanian's determination to seek further development for their community and economy. Ahl Al Azim translates as "The Determined People" and is to serve as a true reflection of this authentic Jordanian trait.

This project which is developed in collaboration with the Ministry of Public Works and Housing and the Jordanian Housing and Urban Development Corporation serves as a true reflection of the fruitful public- private collaborations. Taameer Jordan Holdings also formed such collaborations with the Ministry of Education in a joint quest to construct Teacher villages across the Kingdom.

From his end, Jordan's Minister of Public Works and Housing, His Excellency Mr. Sahil Al Majali said," Ahl Al Azim project will be developed in compliance with His Majesty King Abdullah II's instructions, for it is to serve as the model housing community. Within its boarders the project will incorporate entertainment services, schools, medical centers, vocational training centers and public parks. Transportation will also be available along with other services all added to ensure comfortable living."

H.E. Mr. Majali further explained that the project will be completed over a period of 6 years and over several phases. During the first phase of construction 3000 housing units will be completed. Designs for all housing units are to be prepared by a consultancy firm appointed by Taameer Jordan Holdings.

The Jordanian Housing and Urban Development Corporation on its part ensured that the housing units are sold at prices that are within the spending capacities of Medium and low income families. It also ensured that they be constructed using ready made concrete so as to ensure their fast completion.

General Manager of the Jordanian Urban development and Housing Corporation Ms. Sana'a Mihyar stated that this project is to serve as a blueprint for many more similar housing developments to be established across the Kingdom. "As the demand for housing rises, the necessity to satisfy this demand increases. Through these projects we strive to satisfy the housing needs of low and middle income families and we are confident that through the fruitful partnerships we form with different real-estate development companies we will be able to achieve this goal. So far we had formed 50 such partnerships and we will be using these partnerships to develop fully serviced communities for citizens earning lower incomes" she said.

The first phase of the project (3 million sqm out of the total project area of 7.5 million sqm) will be developed by the year 2012. This phase will includes 15,754 residential units out of a total of 1961 buildings, and 2010 commercial units ranging between 100 sqm and 200 sqm each. This phase of the project will be constructed to accommodate over 84 thousand individuals. The residential units will be designed in accordance with 7 different sizes including apartments that are 80 to 100 sqm in size and villas that are 315 sqm in size.

These units will be sold through flexible and competitive funding schemes prepared in cooperation with several financial institutions.