Dubai: Emaar Properties has expanded into Jordan with a master-planned project that will boost tourism growth, encourage foreign direct investment and generate employment opportunities for the local population.
The property developer, now on an international growth drive, will open its Jordan office in Amman at the end of this year.
In line with the growth plans for Jordan as outlined by the King Abdullah II Fund for Development, Emaar Jordan, along with a group of regional and Jordanian investors, have formed The Dead Sea Company that will initially develop a luxury master-planned mixed-use project at the Dead Sea.
"As a powerful development tool that works towards the overall prosperity of Jordanians, the King Abdullah II Fund for Development (KAFD) is encouraging innovative investments on a wide range of projects," Emaar chairman Mohammad Ali Al Abbar said in a statement.
"Emaar's Jordan initiatives complement the company's Vision 2010 of becoming one of the world's most valuable companies through focused expansion," said Issam Galadari, Managing Director, Emaar International Middle East and North Africa.
"Jordan is a key emerging market in the Middle East and North Africa region one of the thrust areas for Emaar's growth. Riding a new wave of economic resurgence, Jordan offers immense potential for enterprises that synergize with local growth plans. Emaar's endeavors are focused on complementing the country's economic initiatives."
Diversification
Jordan is diversifying from its traditional dependence on natural resources. Tourism and information technology are key growth drivers and special economic zones have given a boost to foreign direct investment.
