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French Version

The Land signs JD35 million contract with Al-Abdali

The Land International Investment and Real Estate Development Company has signed a contract with Abdali Investment & Development PSC to purchase 4540 sq.m lot in Al-Abdali’s south eastern area near the Palace of Justice.

The contract was signed by Mr Basel Saeed, The Land’s GM and Mr Jamal Itani, Al-Abdali’s GM. Saeed stated that The Land will start a JD35 million project in Al-Abdali where four buildings will be erected with the highest quality and standards.

Three of these will initially consist of eight floors, while the fourth Tower will include 20 floors. Saeed explained that the three years project is expected to start during the last quarter of 2006 and expected to finish during 2009. This project is considered one of the largest projects in Al-Abdali.

He also added, “The development would principally be designed for office space. The total built-up area is around 42,000 sq.m.” It is also noteworthy that The Land has started the first phase of Madinat Al-Sharq project which will be located in close proximity to the city of Zarqa.

The company acquired 196,000 sq.m as part of Phase I of Madinat Al-Sharq project with an estimated investment of JD50 million. Madinat Al-Sharq’s first phase includes accomplishing the development processes and providing different residences at competitive prices and preferable conditions.

Amman,27March2006
Redaction
The Star


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