Saraya Aqaba now accepting applications for retail space

Retailers wishing to open premises on the Saraya Aqaba site will be able to make their application between Tuesday February 28 and March 14, 2006 at Saraya's offices at Le Royal Hotel, Amman.

It is anticipated that demand for the retail spaces will be as high as demand for residential properties which received a surfeit of applications. Saraya Aqaba will bring a range of stores to the residents and visitors of Aqaba ranging from modern international brands to the more traditional souk. Shopping will be an option for the tourists staying at one of Saraya Aqaba's five 5-star hotels, three of which will be operated by Jumeirah, and the other two operated by Starwood Hotels and Resorts Worldwide. Saraya's shopping area will also be available to the residents of Aqaba, aiming to enrich their local shopping experience.

"We are very pleased to be commencing the next phase of the project by bringing in retail partners into the development," said Mr. Ali Kolaghassi, Vice Chairman of Saraya Aqaba. "We are confident that businesses joining Saraya Aqaba will benefit from the huge potential that Aqaba holds as a business and tourist destination".

At a cost of $600 million and spanning 610,000 square meters, the completed Saraya Aqaba development will encompass luxury hotels, premium residential properties and mixed entertainment surrounding a man-made lagoon that will add approximately 1.5km to Aqaba's beachfront. Saraya Aqaba will focus not only on developing tourism in the marine city but on developing the local community for which it is a part of as well, through a series of education, employment and other schemes.