Al Maabar's Managing Director meets Jordan's Prime Minister to discuss $10bn Marsa Zayed project

Notes and media contacts

About Al Maabar:

Al Maabar, Abu Dhabi's International Real Estate Investment Arm, was incorporated as a joint venture in 2007 between Abu Dhabi's six real estate and investment pillars, namely Mubadala, Aldar Properties, Sorouh Real Estate, Reem Investments, Reem International and Al Qudra Holdings. All of Al Maabar's projects are mixed-use developments and master planned communities, with developments currently under way in the GCC, Levant and North Africa and several more under consideration or at advanced planning stages. Al Maabar is committed to delivering added value to its partner countries. This is achieved through job creation, stimulating economies and the development of local skills and capabilities.

About Al Maabar Jordan:

In Jordan, Al Maabar operates through a wholly owned subsidiary, Al Maabar Jordan Investments Company. Al Maabar Jordan created several Special Purpose Vehicles (SPVs) for its operational projects in Jordan.

- Al Maabar Abdoun Real Estate Development Company, one of the SPVs of Al Maabar Jordan, is the Master Developer of Abdoun mixed-use development project which consists of a luxury hotel, branded and serviced high-end residential apartments, and leasable retail space.

The project is located within the 5th circle intersection, situated in the heart of Amman's city centre, business district, and major shopping areas. It is considered as the most prestigious, well-established location in Amman offering hospitality, real estate, financial services, and medical and education facilities. The master plan, which will address all infrastructure demands including densities and configurations, development of adjacent vacant land, road networks and pedestrian linkages, is in the process of being developed. The Expected completion date is by mid 2013.

- Al Maabar Aqaba Real Estate Development Company, one of the SPVs of Al Maabar Jordan, is the Master Developer of Marsa Zayed project which was named in memory of the Late Sheikh Zayed Bin Sultan Al Nahyan, is a 3.2 Km² development including 2 Km of waterfront and is the biggest real estate and tourism project to take place in the history of Jordan. It is also one of the most significant developments in the region.Marsa Zayed is a mega mixed-use waterfront project, including high-rise residential towers, retail, recreational, entertainment, business and financial districts and nine branded 4 and 5 star hotels. Several marinas will add to the current berthing capacity which will transform Aqaba into a premier yachting destination; in addition to a state-of-the-art cruise ship terminal, which will become one of Jordan's touristic landmarks and a welcoming gateway to Aqaba. The project will be implemented in several phases once the transfer of land ownership is complete. Phase one of construction will commence before the end of 2010 following the completion of the land survey and a series of technical studies which are currently taking place in coordination with Aqaba's local Authority (ASEZA).

www.almaabar.com

For more information, please contact:

Seth Hand
Account Manager
Hill and Knowlton
Tel: +971 2 401 2557
Fax: +971 2 444 3894
P.O. Box 77752 Abu Dhabi, UAE