Company Overview
Al Maabar Jordan Investments Company is a subsidiary of Al Maabar International Investments; a joint venture company formed by Abu Dhabi's largest real estate developers namely Mubadala, Aldar Properties, Sorouh Real Estate, Reem Investments, Reem International and Al Qudra Holding.
Al Maabar Jordan Investments Company signed an agreement with the Jordanian government to develop Marsa Zayed, a $10 billion mega mixed used development in Aqaba.
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.
Project Overview
Marsa Zayed, 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 several branded 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.
Project Details
Size:
Site Area - 3.2 million sqm
Built-up area - more than 6 million sqm
Project Phases
The project will be implemented in several phases over a period of 30 years. To date Al Maabar has received 2.0 million sqm of land out of the 3.2 million square meters, as for the remainder of the land 1.2million square meters is still occupied by the Aqaba Port facilities and it is anticipated to be received for redevelopment in 2013.
Phase 1 for Development (2010-2014)
Phase one of construction will commence during the third quarter of 2010 and it will include completing all of the infrastructure work for around 300,000m² of land.
It will consist of a 35 storey mixed-use tower, Sheikh Zayed's Grand Masjid that will accommodate around 2000 worshipers, 130 Townhouses & 240 Village Flats that will be serviced by a neighborhood retail and community center. Phase one will be completed by mid 2014.
Upon completion of the whole project, the total built-up area will be 6.4 million sqm. The development will consist of 8 hotels including around 3,000 hotel rooms, more than 20,000 residential units of premium villas, villas, townhouses and apartments, and at least 350 marina berths.
Consultants
Program Managers: KEO
Master Planners: Callison
Marine Consultants: Atkins
Business Consultants: TransAct Asia 
                                Jones Lang Lasalle (JLL)
Cost Consultants: Davis Langdom/ AECOM/Hanscomb
Infrastructure Consultant: Arabtech Jardaneh