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French Version

Andalucia on a firm footing

The proprietor of the first comprehensive housing project in Jordan Andalucia for touristic resorts has achieved its first stage in signing contracts for the sale of more than 30 percent of the projects’ villas.

The housing project, with an estimated cost of JD150 million, is located on the Airport Highway and is owned by the Social Security Corporation’s Investment Unit and a number of Jordanian and Arab investors. Mr Khalid Dahleh, general manager of the project said, “We are very pleased at the wide response by Arabs, Jordanians and expatriates who were impressed by the quality of designs and services that the project offers; and we haven’t yet embarked on our promotion campaign.”

The project occupies an area of 800,000m˛ and incorporates 620 villas of various sizes and designs to be built on 17 percent of the land. There will also be gardens, parks, health club with all amenities plus a huge shopping mall and a mosque. Jordanian banks fare well in Palestine Jordanian banks operating in Palestine raised their credit facilities to JD775.7 million for the first five months this year as compared to JD550 during the same period last year.

The Jordanian currency constituted JD90.8 million, US currency equivalent to JD571.1million and other currencies to the value of JD137.8 million. Total assets of these banks in Palestine amounted to JD2.7 billion by end May compared to JD2.3 billion end of May of last year. Deposits reached JD2.1 billion during the first half of this year, up from JD1.9 billion during the same period last year. Steel rises 8 percent Due to the rise in local production costs of steel brought about by the recent increase in fuel prices, steel rose up in price by 8 percent, selling at JD395 per ton inclusive of tax, transportation, loading and unloading, compared to JD370 per ton over two weeks ago.

The rise in production costs was also influenced by the upward movement in prices of billets, electricity charges and water in addition to the rise in salaries to a minimum of JD95, according to Hisham Mufleh, president of the Steel Merchants Association. Sit in at Magnesia Jordan *In protest at the redundancy of 100 laborers at the Magnesia Jordan Co., a number of the company’s employees and workers held a sit in at the company’s premises in Ghor Al Safi. Protestors demanded to be included in the social security umbrella, job security, health insurance and the right to be paid regularly at monthly intervals.

Magnesia Jordan has been idle for the past seven months after it had incurred heavy losses. The governor of the southern Ghor accompanied by the head of the police station calmed the workers and assured them that the company has promised to rescind its decision and to reinstate the laid off workers.

Amman,24July2005
Redaction
The Star


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