of Abdali

The World
of
Abdali
ISSUE 3 - 2007
News Headlines
A Word from the CEO
Retail City 2007
Abdali Boulevard Participates at Retail City
In the News
2007
Real Estate Sector
The Abdali Effect: Reinventing the Retail
Queen Alia International Airport Expansion
Sector in Amman
Jordan: Marketing and Beyond
Tourism on the Rise
Abdali in Cityscape Dubai
Abdali Makes Headlines
Vote for Petra
Developers’ News
Damac
Vertex
Boulevard
Project Focus
Abdali’s New Website
Abdali - Civic Role
A Word from the CEO
In the News
REAL ESTATE SECTOR
“It is more important to do what is strategically right, than what is
immediately more profitable.” King Abdullah II
Real estate is one of the most important sectors receiving attention in the region today.
With these words, HM King Abdullah heralded the beginning of a long-
Besides the obvious example of Dubai, one does not need to look far to find prime ex-
term vision for the Kingdom of Jordan. Since that time, they have come
amples. In Jordan alone, the value of real estate transaction has jumped from 1.3 billion
to reflect the studied approach His Majesty’s government has taken
USD in 2003 to 2 billion USD in 2004 and 3.5 billion USD in 2005.
towards the Jordanian economy in planning for the country’s future.
Jordan continues to gain prominence as a secure and growing environment, luring investors from all over the region. Add to this its strategic location in the Levant and GCC region and a high predicted growth
rate in the coming years, and the vision comes closer to fulfillment
every day.
Amid this vision, it is more than evident that the new downtown, Abdali,
is an integrated major development in the city of Amman. Its advanced
technology solutions, state-of-the-art facilities and services, intrinsically planned architecture provide the entire area with the necessary
credence in being the foremost developer in Amman that boasts to
impact the city architecturally, economically and socially. Moreover,
this is strikingly evident in the influx of interest received from major
local and international corporations looking to relocate into a better
environment.
JAMAL ITANI
This summer has witnessed a considerable amount of activity in
the project site. As we speak, 23 parcels have commenced actual works. By end of year, over 80% will have started excavations
and 50% would have started their concrete works. With such
steady progress, Abdali is right on track to meet its scheduled
In line with that growth, Abdali is strategically positioned to reap the benefits of being Am-
completion date in early 2010. Only then will the real adven-
man’s future downtown. Factors contributing to its success include an increased demand
ture begin.
for viable real estate investments from Jordan and Arab countries, a real need for quality
residential, retail and office space and a surge in tourists who expect higher standards of
JAMAL ITANI
accommodation and services. According to analysts, the cycle in Jordan is on a rise, and
Chief Executive Officer
a healthy demand for real-estate will ensure that it stays that way in the coming years.
In the News
In the News
JORDAN: MARKETING & BEYOND
The tourism industry is one of the largest income
public. The campaign saw JTB participate in the
sources for Jordan, generating roughly 11.2% of the
2007 Arab Travel Market, held in Dubai from May 1
GDP. Recently, marketing has focused on a twofold
to 4, 2007. This proved to be a strategic opportunity
approach with the Jordan Tourism Board develop-
to highlight Jordan’s touristic packages, including
ing holistic campaigns to lure foreign visitors, while
historic, entertainment and leisure sites and activi-
individual resorts and mega-projects such as Abdali
ties that cater for the entire Arab and Gulf family.
come up with their own customized strategies. This
has meant that Jordan’s marketing plan is no longer
Complementing the Tourism Board’s initiative, mega-
a hit and miss affair but a focused strategy that tar-
projects across Jordan have also begun developing
gets audiences in Saudi Arabia, Kuwait, Qatar, Bah-
their own marketing plans. Foremost among these
rain, UAE, Oman and even further to reach North
is the Abdali downtown, whose emphasis on premi-
Africa and Europe.
um retail and business amenities and a lively cultural
milieu are ideally positioned to welcome the surge
To date, an extensive marketing plan has been kicked
in tourists that Jordan is experiencing. The future
off by the Jordan Tourism Board (JTB) to further
downtown, with the resplendent Boulevard at its
promote the country’s cultural treasures. Its slogan
center, is prime territory for a diverse crowd of tour-
is «Marhabakom» (“Welcome”) and it aims at pro-
ists from the Gulf and Western countries.
moting Jordan as a tourist destination for the GCC
QUEEN ALIA INTERNATIONAL AIRPORT
EXPANSION
port for a period of 25 years. Foster & Partners, the
architects behind Beijing, Hong Kong and the UK
airports, have designed the new terminal. Minister
Passenger capacity at Queen Alia International Air-
of Transport Saud Nseirat described the project as a
port (QAIA) is set to rise from 3.2 million to 9 million
“key milestone in Jordan’s move towards attracting
a year based on a 550 million USD airport expansion
private participation in the country’s transportation
project planned for 2010, just in time for Abdali’s fi-
sector and offering tourists high-end facilities.” The
nal completion date. Under a deal signed during the
latest move towards updating Amman’s infrastruc-
World Economic Forum, the Airport Development
ture, QAIA’s expansion is a necessary step that will
Project (ADP) Consortium, an international group of
facilitate tourist flow into the capital, especially into
investors, will upgrade the existing airport facility,
what is expected to become Amman’s busiest dis-
construct a brand new terminal and manage the air-
trict, the new Abdali downtown.
In the News
In the News
TOURISM ON THE RISE
ABDALI MAKES HEADLINES
Visitor numbers have continued
Abdali has been making headlines across the region. Reporters are following closely on the progress and so
to grow in Jordan during the first
far media coverage has been massive, with several prominent national, regional and international publica-
six months of the year, with tour-
tions all taking an active interest in the development of what is to become the new downtown of Amman.
ist arrivals 13.8% higher than the
same period of 2006, according
to the Ministry of Tourism. Tourists from Arab and Gulf countries
formed the bulk of arrivals, rising
9.4% to 844,441 visitors between
January and June this year, compared to 772,032 visitors in the
same period of 2006.
The figures reveal that Jordan is
becoming an increasingly popular itinerary for tourists, especially
those from the Gulf countries.
Currently, the most popular desti-
Among the references in the field who recently took notice was the Oxford Business Group, one of the most
nations within the country remain
renowned and leading sources of information for Eastern Europe, North and South Africa, the Middle East
Petra, Aqaba, the Dead Sea and
and Asia, with a series of on-line and print publications. In their article, “Amman’s Urban Regeneration”,
the capital, Amman. While Am-
published on September 5, 2007 OBG credited Abdali Investment and Development for “currently con-
man lacks a truly defined core,
structing Amman’s largest mixed-use development project.”
Abdali will definitively fill that void,
exceeding visitor’s expectations.
According to OBG analysts’ team, which reported the story, Abdali Investment and Development succeeded
with a downtown created to truly
in being a major player in an unprecedented investment influx into the city, by offering a strategic location in
world-class standards.
the Middle East backed by a sustainable proposition that
encompass major business hubs in the world with and integrated master plan that offers advanced technological
facilities, traffic and parking solutions, district energy, and
a perfectly planned tenant mix.
The article concluded: “Amman’s New Downtown Abdali’s
was officially declared by the Grand Amman Municipality
as the new central business district of Amman.”
Developers’ News
DAMAC: LAUNCHING INNOVATIVE SITES IN
ABDALI’S NEW DOWNTOWN
Project Focus
Developers’ News
BOULEVARD: 300 MILLION USD CONTRACT AWARDED FOR THE CONSTRUCTION OF THE ABDALI BOULEVARD
ABDALI NEW DOWNTOWN:
TODAY & TOMORROW
Damac Properties announced its appointment of Issa Haddadin & Part-
Work has started in full force on what is to become
service basement levels), it stands to be one of the
For Abdali, Jordan’s foremost ur-
Today, full speed work is invested in
ners Construction Co. as the enabling works contractor for its projects:
Abdali downtown’s glittering center: the Abdali Boul-
most ambitious projects yet to grace the city of
ban regenerative project, 2007 was
one of the most important develop-
The Heights, The Lofts, Courtyard 1 and Courtyard 2 in Amman. Exca-
evard. In a deal worth 300 million USD, Saudi Oger
Amman.
a busy year as significant progress
ment projects, the Abdali Boulevard.
vation works have already commenced and are scheduled to be com-
Construction was awarded the contract to build all
was made on several key fronts.
The Boulevard is set to be Abdali’s
pleted in 120 days. Damac’s projects in Abdali will be created accord-
components of this multifaceted project. A fascinat-
Saudi Oger, notable for its experience in the field and
Earlier this year, many developers fi-
glittering center and a showcase for
ing to the highest construction criteria and offer the latest in services
ing mix of retail, residential and business develop-
extensive projects across the region, commenced
nalized their projects’ designs, and
the best in urban elegance. In Par-
and living standards. With expectations running high, Damac guaran-
ments, the Abdali Boulevard cuts a unique figure in
works on August 4th, 2007 and has assigned a
for some investors it was the begin-
allel, 23 parcels have commenced
tees to meet them and assist Abdali in becoming a truly dynamic hub
Amman’s cityscape and will prove to be major draw
completion date for February 2010.
ning of actual construction.
actual works. With such progress,
for business and tourism throughout the region and beyond.
once finished. At 224,000 sqm (including 118,000
Abdali is right on track to meet its
sqm above ground and 106,000 sqm of parking and
completion date scheduled in 2010,
VERTEX: CONSTRUCTION BEGINS ON
THE ICONIC VERTEX TOWER
AND RESIDENCES
In fact, by the end of this year, the
majority of the developers would
have started excavations and most
of them would have initiated con-
Dubai Construction Company (DCC) announced the start of construc-
crete work.
tion on the Vertex Tower and Residences. Located in the Abdali downtown, the project is set to cover a total built-up area of 66,000 sqm. De-
The following pages will inform you
signed by prominent Italian architect, Claudio Nardi, the Vertex Tower
of the latest news of our develop-
and Residences is a projection of modern Italian design, marrying su-
ers and their projects, a follow up of
preme functionality and sleek aesthetics, breaking the mould of current
what was already presented in ear-
prevalent work. As with each new project in Abdali, the Vertex Tower
lier issues.
exudes a stunningly distinctive flair while perfectly complementing the
overall vision that will become Abdali.
Developments in Abdali: Project Focus
1
6
5
4
Abdali’s New Website
ABDALI PSC LAUNCHES ITS NEW INTERACTIVE WEBSITE
Abdali’s new downtown will no doubt change the urban lifestyle in Jordan, seeing as it includes the latest
in entertainment, business and real estate. Until that time, Abdali Investment and Development PSC. has
given visitors something to look forward to by launching a totally renovated website that offers visitors an
all-encompassing tour of Jordan’s expansive mega-plan, the new luxurious downtown in the center of the
ADNAN SAFARINI
Use of Building:
Commercial Development
Architect:
Adnan Safarini
PARADISE TOWERS
Use of Building:
Commercial Development
Architect:
Norr Group Consultants
2
ABDALI BOULEVARD
Use of Building:
Recreational Development
Architect:
Laceco International
DCC-TURNKEY MANAGEMENT
Use of Building:
Commercial Development
Architect:
Claudio Nardi
capital.
7
MARWAN SALEH
Use of Building:
Commercial Development
Architect:
Marwan Saleh
PHILADELPHIA TOWERS
Use of Building:
Commercial Development
Architect:
Symbiosis Designs Ltd
8
3
Modern, stylish visuals, a user-friendly interface and the latest updates all contribute to make it a unique experience for information seekers. It allows browsers to explore all aspects of the upcoming project in detail.
3
6
5
Now, visitors can not only take a breathtaking visual tour of the entire one million sqm area, but can also live
7
the true experience of Abdali through a highly innovative and interactive medium.
Simultaneously cosmopolitan and international in character, Abdali’s cutting-edge design and superior synergy are already earning praise. The project blends perfectly with Amman’s urban identity and is set to be
4
CAPITAL BANK
Use of Building:
Commercial Development
Architect:
Fosters & Partners
2
completed by early 2010. Until then, abdali.jo serves as a doorway to what will be the most popular district
1
in Jordan.
8
DAMAC BUSINESS
HEIGHTS
Use of Building:
Commercial Development
Architect:
Architecture Studio
www.abdali.jo
Retail City 2007
ABDALI’S BOULEVARD
SHOWCASED TO GREAT
ACCLAIM
THE ABDALI EFFECT:
REINVENTING THE RETAIL SECTOR IN AMMAN
Abdali in Cityscape Dubai
CITYSCAPE DUBAI 2007 PARTICIPATION
For the third year in a row, Abdali has decided to participate in the region’s biggest real estate event. With
It was Abdali Boulevard Compa-
One of the highlights of Retail
over 70,000 sqm of space being rented out to exhibitors and more than 400 billion USD of projects pre-
ny’s time to shine as it revealed
City 2007 was the presentation
sented, Cityscape’s organizers say this year’s fair is likely to smash all last year’s figures, which were already
its highly anticipated Boulevard
of ABC’s Sales Director Mr. Se-
world records.
project to a crowd of international
lim Majzoub. Entitled “The Abdali
investors. ABC’s unique endeavor
Effect – Reinventing the Retail
The Jordanian master developer will once again be in the spotlight, face to face with a dream audience
was hailed by numerous retailers
Sector in Amman,” the presen-
composed of Arab and international investors as well as the biggest names and senior professionals in the
who expressed their enthusiasm
tation gave a present picture
industry. Representatives from Abdali, the Abdali Boulevard Company and major developers in the new
at being part of Amman’s retail
of Amman’s retail industry and
downtown will be on-hand to field questions about Jordan’s foremost regenerative project and its exciting
transformation. With the project
the potential factors that could
potential for investment. Participation in Cityscape is a crucial touchstone for any serious developer who
progressing swiftly, and some of
lead to its resurgence including:
wishes to make their mark and interact with a lucrative pool of investors from around the world. Abdali’s
the most renowned names in re-
the steady increase in tourists
presence in the fair confirms its status as a leading master developer alongside the big industry players.
tail and fine dining waiting to take
visiting Jordan and the 37.4% of
part in it, Abdali’s Boulevard is
Jordan’s inhabitants now living
clearly on the right track to suc-
in the capital.
cess.
According to Mr. Majzoub, despite
an estimated population of 2
million and 7.5 million tourists
annually, Amman still lacks a
high-end retail destination. Enter
Abdali Boulevard whose role
is to literally re-invent the retail
sector, with global brands and
an exciting outdoor experience.
By catering to the well heeled
Jordanian crowd and the evergrowing number of visitors from
abroad, the iconic Boulevard is
destined to enjoy bright prospects for the future.
Vote for Petra
ABDALI PARTICIPATES IN MAWARED’S
CAMPAIGN TO VOTE FOR PETRA
Abdali – Civic Role
ABDALI ENHANCES
INNOVATION AMONG
J.U.S.T. STUDENTS
On July 7th, 2007 Petra was named one of the
Seven Wonders of the World as result of the united
Abdali believes in the importance of
“I never imagined such a huge
efforts of individuals, communities and corporations,
building people’s capacities and en-
company
in one of the widest global competitions held in
gaging with the wider communities to
or believe in our efforts. Our
recent history. Chosen by around 100 million voters
understand their needs and respond
graduation project started as a
around the world, the 7 winning sites were selected
accordingly. In line with its vision,
dream, thinking of the Abdali down-
and announced on 07-07-2007 during a ceremony
Abdali supported a group of archi-
town and imagining how we could
in Lisbon.
tecture students in their gradua-
become part of it. Abdali’s response
tion project at Jordan University of
overwhelmed us and gave us
Science and Technology (JUST).
that extra motivation to create
Abdali PSC, always dedicated to participating in the
would
support
us
promotion of Jordan’s rich heritage, backed
a truly successful and innovative
Mawared’s «Vote for Petra» campaign by encouraging
project. If Abdali believes in us, we
its staff to vote and support the city’s bid on June
have the confidence that we can
28th. Employees from Abdali PSC and its affiliates
get any job easily. Our graduation
such as Abdali Boulevard Company, AREMS,
project was a milestone that helped
Jordan District Energy, to name but of few, turned
open doors to find a career. I now
out in force to vote for the ancient city.
work in a local architecture firm
utilizing the skills I gained at uni-
According to the New 7 Wonders organizers, a tally
versity and learning the practice.”
of 100 million votes had been cast since voting for
Nancy Hashimeh, group member
the global campaign kicked off in March 2006. Local
This support represents a milestone
officials said 22 million votes were cast for Petra,
for enhancing young people’s inno-
which was officially listed as a UNESCO World Her-
vative skills and potentials to become
itage Site in 1985. The 2000-year-old rose red city
active members in the workforce.
was crowned a World Wonder alongside the Great
The students, who presented their
Wall of China, Brazil’s Statue of Christ Redeemer,
projects on the 30th of May 2007 to
Peru’s Machu Picchu, Mexico’s Chichen Itza pyra-
a jury made up of experts in the field,
mid, the Colosseum in Rome and India’s Taj Mahal.
focused on the notion of urban living and designed mix use high rise
towers with the Abdali PSC specifications and regulations.
Abdali Investment & Development PSC
4th & 5th Floors, Al Salam 2 Building, Wadi Saqra
P.O. Box 925309, Amman 11190 Jordan
Telephone: +962 6 5610560, Fax: +962 6 5610577
Email: [email protected], Web: www.abdali.jo