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 MEEF - Middle East Engineering Projects News & Releases

Jordan expects JD15 billion of investments in construction sector

Jordan Times - 19/07/2006

AMMAN (Petra) Public Works and Housing Minister Hosni Abu Gheida expects JD15 billion of investments in the construction sector during the coming few years. Speaking at the 5th Forum of Jordanian Expatriate Engineers organized by the Jordan Engineers Association, Abu Gheida highlighted the country's conducive investment environment in terms of rules and regulations that protect investors' rights. The minister stressed the role of the engineering sector in propelling the country's socio-economic drive. On the sidelines of the forum, a workshop will be held on skyscrapers, as such tall buildings are making their way into the country with the increasing flow of Arab and foreign investments

DAMAC Properties introduces 'The Heights' to the stunning Abdali area of Amman

Courtesy: AME Info

Luxury lifestyle provider and the region's leading private sector developer, DAMAC Properties, announces today 'The Heights', a USD 120 million truly iconic real estate undertaking within the stunning Abdali area of Amman.

DAMAC's entry into the Jordanian real estate market follows highly successful launches by the property company in Lebanon, Qatar and China.

'The Heights is a true masterpiece. It exudes grace and style and is due to stand out as one of the most luxurious and elegantly designed towers within Abdali, Amman's vibrant new downtown area', Said Peter Riddoch, CEO at DAMAC Properties.

'Our highly ambitious plan for Jordan includes a number of real estate ventures that we plan to unveil within the coming few years', added Riddoch.

DAMAC's new project is a 35-storey tower located at the entrance of the Abdali master planned development. It encompasses studio, one, two and three bedroom apartments, and penthouses, including open-air balconies in every apartment. Its luxury amenities comprise quality marble and wooden floorings, smart home technology, ample parking space, 24 hours concierge and helpdesk services, an advanced cabling system for telephone and internet lines, as well as a standby power generator.

'Our launch in Abdali stems from our belief in the extremely vibrant and dynamic master plan that is due to become a true hub for business and tourism for many nationalities throughout the region and beyond. The project is a very attractive investment opportunity for customers as it will potentially generate substantially high investment and rental returns', commented Riddoch.

In line with the launch of its stunning property, DAMAC Properties introduced a very exciting promotion for the first 25 buyers of 3 bedroom apartments who will be entitled to a brand new classy 2007 Jaguar X Type.

'Our Jaguar promotion is aimed at always adding value to the customer. DAMAC's Jaguar promotion stems from the synergy between DAMAC Properties as a luxury lifestyle provider, and Jaguar as an iconic luxury car manufacturer', stated Riddoch.

Recently, the property company unveiled its exquisite project in Lebanon, 'la Residence by Ivana Trump', a USD 150 million real estate venture in the world-renowned Beirut City Center at the prime intersection of Omar Daouk and Fakhreddine streets.

International celebrity, Ivana Trump, endorsed and contributed substantially to the project's iconic design due to the synergy between DAMAC Properties as a luxury lifestyle provider and the star's image as a symbol of opulence and glamour.

La Residence by Ivana Trump is a 27-storey, elegantly designed tower that exudes grace and style, including a plethora of one, two, and three bedroom apartments, along with duplexes and penthouses. Apartments on every level will provide stunning views on the Mediterranean Sea.

The property's luxury amenities encompass marble and wooden flooring, ample parking space, a children's play area, smart home technology, a temperature controlled swimming pool, an exotic sauna and Jacuzzi, state of the art gym, fine dining restaurants, designer boutiques, cafes, as well as 24 hours concierge service, maintenance, security and helpdesk facilities.

In the beginning of June, DAMAC introduced a USD 400 million 14-building spectacular real estate venture within Lusail's Fox Hills community in Doha, along with a USD 3.5 billion exquisite mixed-use project within the Trumpet Bay region located in the Tanggu District, Tianjin, People's Republic of china.

Last year, the property company was honored with three prestigious Bentley International Awards 2005 in the categories of Best UAE Development for Marina Terrace, Best Architecture for Ocean Heights and Best Developer Website ( at a ceremony in London on 4 November 2005.

The Bentley International Property Awards, now entering their 11th year, have been described as the 'Oscars' of the property industry. The aim of the awards is to distinguish the highest levels of achievement in a range of property-related fields. Categories cover a wide range of property and real estate related activities and services, including Development, Interior Design, Architecture, Property, Advertising, Marketing, and Estate Agency Services.

The total value of DAMAC Properties' projects is over USD 4 billion. It is a subsidiary of the DAMAC Holding established in 1982. An accredited ISO 9002 company, DAMAC Holding has now grown into a global conglomerate with more than 5000 employees in 16 countries. Being the first private sector Company to make a commitment to Dubai's real estate market, DAMAC properties has become the market leader with a strong sales record to its credit.




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