JORDAN
“Last year we continued to see steady progress and important milestones met for both our developments in Aqaba and Amman. We awarded the Phase One Infrastructure Contract for Marsa Zayed to a Jordan-based contracting firm in July 2011, and we also signed an agreement with Starwood for the Te St. Regis Amman and Te Residences at Te St. Regis Amman. Our business model at Al Maabar is all about helping to create long-term, sustainable developments through strategic partnerships.”
the Marsa Zayed and St Regis Amman developments. “Last year we continued to see steady progress and important milestones met for both our developments in Aqaba and Amman. We awarded the Phase One Infrastructure Contract for Marsa Zayed to a Jordan-based contracting firm in July 2011, and we also signed an agreement with Starwood for the Te St. Regis Amman and Te Residences at Te St. Regis Amman. Our business model at Al Maabar is all about helping to create
long-term, sustainable developments through strategic partnerships.”
INDUSTRIAL FOCUS Jordan Industrial Estates Company (JIEC) oversees the country’s burgeoning industrial asset class, with responsibility for the newly labelled official Development Zones “Over the years, JIEC has developed five operational industrial estates across the Kingdom and we have two other projects in the pipeline. We provide companies and plants that invest in any of our industrial estates with a number of incentives that help reinforce their industrial activity,” says Kay Marwan, JIEC’s Head of Marketing. “As per the new Development Zones law, numerous incentives, sales tax and custom exemptions are given, and we also encourage investment through the provision of various support services that lead to better efficiency and performance,” she adds. Benefits driving interest and investment include a streamlined ‘one- stop-shop’ service for new start-ups, well-developed infrastructure and ancillary services, 100 per cent ownership and access to international markets through negotiated trade agreements. JIEC is financially and administratively autonomous, which is proving to be a major attraction for foreign investors and, in addition to the one-stop-shop concept, also established Investor Services Bureaus for each industrial estate, designed to fast track businesses to get them up-and-running with a minimum of bureaucracy. According to Marwan, Jordan’s potential across all asset classes is undeniable, as she explains: “Jordan is a regional hub for trade and culture, and occupies a strategic position in the Middle East. We are also blessed with political and economic stability, modern legislation, a strong and independent legal system, are on a democratic path with a free economy led by the private sector, and a government promise to support and sustain the flow of investment into the country. “Tese elements blend together to create an economically-feasible destination; offering global investment opportunities in a world-class business environment to both regional and international investors ” l
Jordan’s Big 4
Amman: Abdullah II Ibn Al-Hussein Industrial Estate • 2.5 million square metres
• Pharmaceuticals, chemicals, engineering and food industries
Irbid: Al-Hassan Industrial Estate • 1.17 million square metres • Te first Qualified Industrial Zone (QIZ) worldwide.
Aqaba International Industrial Estate
• Largest industrial estate in the country in terms of total invested capital and number of companies
• 2.75 million square metres • Located one kilometre from Aqaba International Airport in the Aqaba Special Economic Zone
• JIEC’s third QIZ
• Home to many foreign investors, with a focus on textiles, readymade garments and engineering
Karak: Al-Hussein Bin Abdullah II Industrial Estate
• 1.85 million square metres • Second QIZ approved industrial zone in the country • Te second qualifying industrial Zone (QIZ).
• Jordan • Textile and garment industries
• Strategically located in the south on the highway connecting north and south
Coming up Tree other development zone projects are underway. Te 2.5
million square metre Al-Muwaqar Industrial Estate on the periphery of Amman is moving ahead with phase one of the project which is targeting logistical services and technology industries with over 1.44 million square metres of space. A major draw for companies requiring international connectivity, it is within close proximity of the highway linking Jordan to Iraq and Saudi Arabia. On the Amman drawing board is the Al-Zarqa Industrial Estate, which will be strategically located closed to the Jordan-Iraq border, and the Madaba Industrial Estate, situated 35 kilometres south of the capital with close to 500 million square metres of space pegged for investor use.
10 I CITYSCAPE I APRIL 2012
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