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French Version

King lays foundation stone for Royal Metropolis

His Majesty King Abdallah laid on Sunday, the foundation stone for Jordan Gate, signaling the development of Phase I of the Gulf Finance House’s (GFH) prestigious $1 billion Royal Metropolis in Jordan.

The event took place in a special ceremony held at the project’s area, near the sixth circle in Amman, and was attended by senior representatives from GFH, the Kuwaiti Finance and Investment Company (KFIC), the Greater Amman Municipality (GAM), Al Hamad Contracting Company and Hilton International.

Jordan Gate will be developed in partnership with GAM and KFIC. Dr Fuad Al Omar, GFH’s chairman, delivered a speech in the ceremony in which he emphasized the project’s significance on the long run. “The Royal Metropolis project has been conceived as a significant development that will enhance the flow of inward investments into the country, while adding value to Jordan’s economic proposition to overseas investors,” he said. “It mirrors regional expansion of GFH and its contribution to promoting infrastructure projects for the economic growth of the region. This project is one of the major projects in the region and reflects GFH’s strategy to develop infrastructure in the Middle East.”

Al Omar noted that Royal Metropolis will expand Jordan’s potential as “a hub to attract promising investments in key industry sectors” and it is in line with “the progressive set of reforms that have been instituted by Jordan’s forward-looking leadership.” Jordan Gate is expected to be a futuristic development comprising two high-rise towers connected to a shopping mall and a services area. Built on an area of around 28,500 square meters, these buildings will together encompass a built-up area of approximately 220,000 square meters.

Jordan Gate will provide prime quality office space for international companies keen to set up a base in Jordan, complete with proper security and building management systems. It is set to emerge as Amman’s main commercial center. It will also offer modern conference facilities, an ultra-luxurious five-star hotel and an array of retail outlets. The development, built on a prime location in Amman, will occupy the highest point in the city and upon completion will be visible from every part of the capital.

Its podium would be shaped like a stepped wedge that rises gradually towards the towers providing a dramatic perspective from the main highway similar to that of the surrounding topography. The towers will follow a similar principle to that of the podium but in a vertical direction. With its series of layers overlapping one another from both sides, gradually giving rise and meeting the center glazed elements emitting generous light into the heart of the towers. Essam Janahi, CEO of GFH, said that Jordan Gate will play an important role in supporting the ambitious economic growth strategy of Jordan by providing an opportunity to enter the local market for investors keen to participate in the regional development.

“Jordan Gate will also be an ideal base for a range of businesses in Jordan as well as in contributing to the efforts of the reconstruction of Iraq,” Janahi added. It is expected that the project would create ample employment opportunities as investors in Jordan Gate will create jobs for Jordanians, significantly fulfilling a national need to productively deploy the qualified youth of the Kingdom.

Janahi said that the UAE-based Al Hamad will be the development partner and will undertake the construction of Jordan Gate, while the leading global hotel chain, Hilton International will be appointed to operate the hotel component of the project. “Bringing Al Hamad as well as Hilton International into the project will add to the overall value proposition of Jordan Gate, and is in line with GFH’s commitment to partner with acknowledged experts for all its projects,” Janahi said. He pointed that GFH is confident that its partnership with Al Hamad would help in realizing the project within the required term. “Apart from its professionalism and efficiency, Al Hamad has built a strong reputation for adhering to project deadlines and observing optimum levels of safety, two crucial factors for the project’s success,” he explained.

Al Hamad is the main contractor for the $270 million Financial Center, the first phase of GFH’s flagship project—the $1.3 billion Bahrain Financial Harbor. GFH announced in May that it had concluded an agreement with KFIC to be the strategic partner for the development of Jordan Gate and the second phase of Royal Metropolis—The Districts. The Districts will comprise exclusive and specific industry themed clusters intended to align with Jordan’s industry development priorities.

Each district will be a complete community comprising both business units and residential development with leisure and entertainment facilities. A component of the Districts will be Royal Village, embracing high-class residential community with state-of-the-art modern conveniences, a recreational center, a retail mall, a hotel and commercial space. The Royal Village will be developed on an area of 470,000 square meters, at Marj Al Hamam on the main highway to the Dead Sea. The Districts will integrate both the private and public sectors, working together to achieve a common goal of putting the Kingdom’s economic growth on the fast track.

Amman,13June2005
Redaction
The Star


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Exotica - Flowers - Shopping on line
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Engineering Consultants Lebanon
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