The Aqaba Special Economic Zone Authority (ASEZA) is the financially and administratively autonomous institution responsible for the management of the Aqaba Special Economic Zone (ASEZ).
The projects undertaken by ASEZA are as follows:
Horizon, an integrated urban city project divided into six main sectors. Valued at $5 billion, the project consists of a central commercial region composed of entertainment and cultural spaces, residential villas and complexes. It will be completed in 2017.
Saraya Aqaba will commence operations by the end of 2009. The project comprises approximately 6,17,000 sq.m. of development combining shopping, entertainment, freehold accommodation and cultural activities. The approximate total cost of the project is $1 billion. Jumeirah, Dubai-based, will operate two hotels and one boutique hotel in addition to operating the Water Park. Starwood Hotels and Resorts Worldwide Inc will operate the other two hotels and a boutique hotel.
Red Sea Resort is developed in an area of 1,47,400 sq.m. and a building area of 68,000 sq.m. It consists of 260 villas with four different designs. The fully-serviced resort has an investment worth $75 million and will be completed over to residents in one phase by the end of 2008.
Tala Bay is the first integrated resort and residential community in Jordan. The project covers an area of approximately 2.7 million sq.m. The master plan for Tala Bay includes a golf course and five and four stars hotels, with accommodation capacity of 2,500 rooms. It has four phases, three are completed and the fourth will be finished by 2011.
Ayla is an ambitious waterfront development. It includes a variety of up market hotels, residential communities, a golf course and a town center that encompasses a marina, retail units, cafes, entertainment and recreational facilities. The 'Arabian Venice', theme is the heart of this concept. It encompasses an eclectic style of flat-roof residential Arabic architecture that rises out from the waters, with stepped profiles and warm earthy colours against the blue sea to create a magical environment. This has two phases which is to be completed by 2015. Ayla is expected to provide 800 residential buildings, in addition to 1,500 rooms in 4 & 5-star hotels to be constructed over a period of 9 years. The total cost of this project is approximately $1 billion with a total area of four million sq.m.
Yemeniya Heights - residential development is located over a total area of 3,55,000 sq.m. The total area has been tendered out in the aim to attract private sector companies. Around 1,16,000 sq.m is allocated for Al-Qabas Company for real estate development, 1,1,000 sq.m. for Maden Al Nour and 44,000 sq.m. for the engineers' association. A beach club will be developed by Al-Qabas Company to serve better to the residents of Yemeniya and the club's area will total 50,000 sq.m. of the 1,00,000 sq.m.in total. The other 30,000 sq.m. is put up for tendering.
For ALCazaba, a residential city, Andalusia style model that will incorporate everything that a resident in Aqaba will require - high quality housing, shopping centers, tourist and entertainment facilities. It will be of JD 100 million on 2,85,000 sq.m. The project is expected to complete by the end of 2008.
Aqaba Convention and Exhibition Center is designed on a 2,00,000 sq.m.of land. The total investment is expected to reach $40 million. The main facilities of the project include exhibition main hall, business center, twin office towers, World Trade Center, smart office buildings, mall and hotel.
Aqaba International Industrial Estate (AIIE) is developed by PBI Aqaba Industrial Estate LLP (PBI Aqaba) and SUTA Construction, a substantial Turkish land development company, has been awarded a 30 year concession to plan, finance, market and operate an industrial estate, the AIIE.
It covers 275 hectares. The phase I is completed and phase II will soon see its completion in December 2007.
Aqaba National Real Estate Projects Co. (ANREPCO) is leasing two separate lands, each for a 49-year period. First land is with a total area of 1,500 dunums. The project will be developed in two phases, phase- I is to have 60,000–70,000 sq.m. for hangers and storages, and 40,000 sq.m. for cooler storages, in addition to 4,00,000 sq.m. for light and medium industries. Phase-2 is to keep the remaining space for future demand. The total investment value for this project is estimated at JD 80 million. The project will be operational in 2008.
British University of Aqaba, an affiliate of Coventry University, one of the Britain's most prestigious higher educational institutions is scheduled to open in 2009, with $100 million in investment.The phase-1 in 2009 will comprise of three faculties, leading to more than ten faculties in the upcoming phases over the coming five years. The university covers an area of 650 dunum.
Aqaba Container Logistic Village will relocate the existing CFS operations from the Aqaba Container Terminal to ALV. The total cost of this project is approximately $ 60million with a total area of 5,50,000 sq.m.
Aqaba (Kurdi) Mall, an international hyper market's completion timeframe is 2007-2010. The cost is approximately $ 210million with a total area of 1,00,000 sq.m.
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