Sie sind auf Seite 1von 10

Abdali Investment & Development Psc 4th & 5th Floors, Building No. 242, Wadi Saqra P.O.

Box 925309, Amman 11190 Jordan Telephone: +962 6 5610560, Fax: +962 6 5610577 E-mail: abdali@abdali.jo, Web: www.abdali.jo

The

World of Abdali
ISSUE 5 - FALL 2008

News Headlines
CEO Word Industry Synopsis
- Regional Investments in Jordan

Developers News
- Abdali Boulevard - Central Market Place - Al Hamad Construction and Development Company - Matrix Development - Dubai Contracting Company - Corporate Finance House Investment Banking - DAMAC Properties

Abdali: Whats Happening


- Abdali Media Tour - Cityscape Participation

Project Focus
Technology in Abdali

Ruyatuk
- Abdali Innovation Award - Summer Camp for Young Patients

Abdali: Media Overview


Executive Magazine Highlights Abdali

CEO Word

Industry Synopsis
REGIONAL DEVELOPERS INVEST IN JORDANS POTENTIAL

The potential for greatness lies everywhere, but to flourish, it takes a steady, resilient commitment. In this issue, we take a look at the forms of potential being realized in Abdali, from the new Central Market Place to new generations of aspiring students. At Cityscape 2008 - one of the most important dates on the real-estate construction and development calendar - Abdali will unveil the design of the new Central Market Place, and investors will get a glimpse of this luxury destination model that is set to elevate the shopping and living environment of the new downtown. The potential of a new generation is fulfilled through Ruyatuk, Abdalis CSR program. This month, we launched the Abdali Innovation Award, the first time in Jordan that a private company has undertaken such a comprehensive program for university students, to bring out the best of their skills. Record-breaking events continue to shape the new downtown site. The site of the Abdali Boulevard witnessed the largest cement pour operation in Jordan, and regional and Jordanian media participated in a major media tour in Amman. Meanwhile, developers in Abdali are advancing construction on the site, with the Al Hamad development now above the ground, and DCCs project moving at a fast pace. All of which goes to show that, in a country so full of potential, vision will go a long way. Sincerely, Investors are clearly confident that Jordans stable business climate and its rapidly rising value will prove to be an excellent combination. According to the article, the UAEs interest in Jordan is boosted by the initiatives of Ever since its first launch, Abdali has garnered significant endorsement from opinion makers and investors. Now, figures indicate that such endorsement has been accompanied by a steady stream of investments from regional sources into it and other similar projects. A recent article from Business 24-7 reports shows that UAE-based developers in general have invested more than $7 billion (Dh26bn) into Jordans property market, making up a large share of foreign investments in the country. More importantly, Abdali itself has received over $2 billion in regional investments. Several factors help explain these large numbers. One reason according to Omar Maani, Mayor of Amman, is Ammans tourist potential. Investors are keen on seeing Amman as a tourist destination, he stated. Another factor is the surge in housing demand projected to last for the next five years. Jordans current population is six million, and a little less than three million of Jordanians reside in Amman. According to Maani, Jordan will add 120,000 affordable housing units over the next five years, with half of that number alone to be built in Amman.
1

Jordanian authorities to redevelop and reconstruct the country. As a result, high-value projects in Jordan including Abdali have consistently received support from foreign developers. Abdalis unique timing and the sustainable value it offers to developers have allowed it to capture a large share of the investment. The new downtown will feature high-end, furnished residential apartments. Abdali also encompasses the Abdali Boulevard that is envisioned to become a showpiece of Ammans touristic and entertainment future. Its potential, according to many in the industry, is huge.

Jamal Itani Chief Executive Officer


1Business 24/7 UAE Developers Invest $7Bn in Jordan posted on Zawya.com 27 July, 2008

Abdali: Whats Happening


LARGEST MEDIA TOUR EVER PERFORMED IN JORDAN
On August 13, 2008, Abdali Psc organized the largest ever media tour of the Abdali new downtown site for local press. Members of the media were visibly impressed as they toured Phase I of the new Downtown, which encompasses 251,000 sqm of buildings, public gardens and road networks. Cranes, trucks, workers, actionit looks like the downtown is already alive said one of the press members. If you look from behind the fences today, the site can only be glimpsed, but its nothing like seeing it from the inside.

Abdali: Whats Happening


ABDALI AT CITYSCAPE DUBAI
Abdali will once again be in the limelight at the annual Cityscape in Dubai, the worlds largest business-tobusiness real estate investment and development event. For the 4th year in a row, the Jordanian company has decided to take part in this major event. Abdalis booth at Cityscape will stand an impressive 324 sqm. Inside the booth, Abdali executives and experts will be on hand to discuss the cutting-edge planning and on-the ground developments that are taking place in the Abdali new downtown. Within the booth, some of Abdalis major developers will be showcasing their projects including: Business Heights by DAMAC, Vertex Tower and Residences by DCC, Paradise Tower, the commercialuse tower by Union Land Developments, The Avenue, a mixed-use development by CFH Investment Banking, and the much awaited Abdali Boulevard. During Cityscape, the design of the new Central Market Place project will be unveiled by the Abdali Mall Company, one of Abdalis subsidiaries. This modern, exemplary

Mr. Jamal Itani, CEO of Abdali Psc, stated that things were running according to schedule and that Amman will have a new downtown by 2010, thanks to the support and confidence of investors, the government and other key figures in the Kingdom. The Abdali new downtown project will position Amman as one of the worlds most advanced business, retail and luxury destinations and present investors and visitors alike with an unmatched experience of urban life, said Itani.

The 3 billion USD Abdali urban regeneration project is the largest project in Amman, the capital of Jordan, both in terms of magnitude and impact on the various sectors and activities of the country. A core hub, it offers a foundation for future business and investment opportunities, which became apparent to members of the media on tour. Over 28 local and regional investors are involved in the project, including DAMAC, Dubai Contracting Company-Turnkey Management, Abdali Boulevard Company, Saraya, Madaen Al Noor, Al Hamad, Rotana, SinoGulf and Tameer International.

shopping, downtown.

entertainment

and

residential

complex

promises to bring a unique bustling energy to the new

Cityscape 2008 has the potential to be the biggest yet, with over 75,000 sqm being rented out to exhibitors, a 25% increase from last years fair. The event expects 1,000 exhibitors and 60,000 participants from across the globe, giving Abdali the opportunity to present its new Downtown project to important investors and developers and interact with sponsors of similar projects in other countries.

Project Focus
A SMART CITY FOR A SMARTER LIFESTYLE
Imagine yourself in the midst of the most exciting new city centers to rise in the Middle East. You are surrounded by spectacular high-rise buildings, lush greenery, and a love for life that vibrates throughout. Yet, as you look around, you realize that the most impressive thing about this place is what cannot be seen. It is the mother who monitors her home appliances while walking her child in the park in front of you. It is the excited tourist who uses his wireless connection on his phone to look up the phone number of a great restaurant that was recommended to him.

Take smart living for example: with a permanent broadband connection available in the house, services such as lighting control, AC control, and kitchen appliance control are all part of daily life. It also allows for remote monitoring through the use of webcams that can be controlled and rotated from a distance. Practically, this means that, from wherever a resident is within Abdali, he or she can have complete control over what is going on in the house: they can turn on the AC to their house before they get there, program the washing machine to start now that everyone is out of the house, turn off all lights that have been left on, and monitor motion in the house against intruders.

Because businesses of the future will rely heavily on this impressive technology, Abdali will provide services that will be secure, and allow for a safe and reliable connection to offices around the world, simplifying the work of multi-national companies, all the while providing smaller companies with the trust needed to grow rapidly.

It is the businessman who is using his secure connection to communicate with his office in Europe. It is the group of friends tossing around a ball knowing that their favorite TV show is waiting for them at home for when they get tired from playing. It is the technology of tomorrow at work, the technology of comfort and practicality. It is the technology of Abdali. Believe it or not, within a couple of years, these wonders of technology will be part of everyday life in the new Abdali Downtown. As the impressive project comes to life, it is fast-forwarding Amman into the future. Already a pioneering project on many levels, Abdalis most ambitious project is its dedication to provide the new city center with the worlds most advanced technology. This tiniest of details makes all the difference for everyone that will be living in Abdali. By having constant, consistent access to super-high speed communication, a new way of living will be introduced, where everything simply is easier and faster. The use of optical fibers technology will affect every form of communication we can think of, from the Internet and the TV, to the phone and smart living, and Abdali is using it to its fullest potential, from the most basic to the most complex.

While this new technology will simplify every aspect of In addition to Smart Living, the new technology will bring something called Triple Play to residents. It is a highly effective service that brings together TV, phone and Internet services, giving everyone a simple, cheap way to communicate. It allows access to more advanced services, including Video on Demand, a service that lets you select and watch video content at the time that is most convenient to you. It also gives you complete control over the video being watched, including the ability to pause, fast-forward, and rewind, creating a kind of remote control for your favorite TV shows, as they are being aired. The younger generation will delight in the Broadband Internet connection that is high-speed, and that is connected via the Ethernet technology, as will major companies that can rely exclusively on the Internet for all of their work. With the extensive wireless network that will be available, people will have access to the Internet anywhere at any time within Abdali. While all of this seems like a faraway dream, or like a scene out of a movie, it will take over Abdali before long. With Abdali constantly being a pioneer on the ground, Amman will be launched into a future that will allow companies to blossom and families to indulge in every comfort, entertainment and security that technology has allowed. By the time the new downtown will be completed, Amman will be a leader in the world of communications. daily life, it is through a complex communication system that it will come to life. For this reason, Abdali has created a sub-company that will handle the communication within the new downtown, bringing together unsurpassed expertise. The company, named Abdali Communications Company (ACC), was created to provide a complete set of advanced communication services to Abdali. Backed by a customer service call center, ACC has a mandate to make Abdali the most advanced technology hub in the region.

Developers News
ABDALI BOULEVARD CONSTRUCTION RISES ABOVE GROUND LEVEL
The Abdali Boulevard construction site has just completed the largest continuous concrete pour ever to be witnessed in Amman, allowing the site to reach ground level. With this, another decisive phase has been successfully completed towards building Ammans future entertainment hub. Now in its ground level phase, the Boulevard will eventually comprise a built-up area of 224,000 sqm divided into 118,000 sqm (above the ground) and 106,000 sqm of private/public parking and service basement levels. The Abdali Mall Company, owner and developer of the Central Market Place, was established in 2006 when United Real Estate Company-Jordan and Abdali Psc partnered for that purpose. United Real Estate Company-Jordan, which is owned by United Real Estate Company-Kuwait, a subsidiary of Kuwait Projects Company (Holding) (KIPCO), owns a 60% share of the newly formed company while Abdali Psc owns a share of 40%. The Abdali Mall Companys conviction to develop the Central Market Place is driven from the fact of being part of the prosperous new Amman.

THE CENTRAL MARKET PLACE PROJECT LAUNCHED


Abdali Investment and Development Psc, through its sister company the Abdali Mall Company, launched its latest project within the new Downtown: the Central Market Place. Designed as an indoor/outdoor mixed used development, the Central Market Place project will be a focal point within the Abdali new Downtown, combining elements of entertainment, shopping and luxury living. Built on a plot of land of 32,847 sqm, the project will have a built up area of 300,000 sqm and will be easily accessible from all directions within the downtown.

A dazzling array of facilities and amenities will come standard with the Boulevard, some for the first time in Amman. Leading the entertainment front, 400 luxurious five-star serviced apartments and 130 retail outlets are scheduled to welcome visitors. Already, the sales strategy for the 2008 year has been reached, and heading the anchor tenants that have signed with the Abdali Boulevard Company is a list of international brands and outlets. For the business community, companies with offices in Abdali will enjoy access to over 30,000 sqm of state-of-the-art office space. On the rooftops, restaurants and fitness clubs with external pools and large terraces will overlook the surrounding scenes. Visitors will be able to immerse themselves in its never ending attractions and enjoy unparalleled entertainment, day and night. The Boulevard, expected to be completed in 2010, is a project currently on the fast

track to becoming the vibrant center in the heart of the new Abdali downtown, combining elegance, comfort and flair with the unwavering class that has marked the Abdali venture from the very beginning.

The Central Market Place will be an exemplary, regional and modern commercial complex designed in accordance with international standards. It will offer potential investors unparalleled opportunities to tap into Ammans growth while it contributes to position Amman as one of the worlds most advanced business, retail and luxury destinations. With its dynamic and modern design the project will become a sought after destination adding another milestone and a unique energy to the new downtown.

design by laceco international & aedas C 2008.

Developers News
AMMAN TRADE CENTER AND TOWER 1B MAKE THEIR MARK
Work is progressing on two pivotal projects from Al Hamad Construction and Development Company-Jordan. The first, Amman Trade Center, is a commercial building with a building area of 24,000 sqm, which includes offices and a retail component. With this project, Al Hamad has become the first developer in Abdali to complete skeleton works and proceed to finishing works. All the construction works in the project will be finished by March 2009.

MATRIX DEVELOPMENT LAUNCHES CRYSTALLE, A FLOATING VILLA CONCEPT


Matrix has launched Crystalle, an innovative villa complex on the main prominent road of the Abdali district and across the street from Abdali Boulevard, the major pedestrian shopping and entertainment core of the new downtown. We felt a distinctive location like this one deserved something more than the usual mix of small flats said Bishr Sakkal, Matrixs Executive Director. In keeping with the excusive look and feel of the project, we gave the architect a mandate to design a building consisting of villas that just happen to be in a building.

The second development, Tower 1B, from Al Hamad Construction and Development Company-Jordan, was designed by Laceco and is destined for commercial and residential use. Tenants have the luxury of space, with 54 floors divided across 90.000 sqm of building area. Developed at a cost of 150,000,000 JD, Tower 1B has seen completion of excavation works, and is currently moving into design works stage. The construction works are expected to be completed in 30 months.

Designed by Maisam Architects and Engineers, Crystalle is a unique mix of spacious duplexes and simplexes all of which have private elevator landings as well as dedicated service entrances usually only found in villas. With our design, the buyer no longer has to choose between the space and privacy of suburban living and the convenience of urban living Bishr added. He continued: The most luxurious element a residential unit can offer is space, and with all of our units ranging from 450 to 650 sqm, we feel we have accomplished the ultimate in luxury, a place where the residents truly feel like they are living in villas that are floating within a building. With preliminary design, excavation and shoring works completed, the project is on track for the scheduled completion date of 2010.

For sales inquiries: bsakkal@matrix.us.com

Developers News
DCC COMPLETES CEMENT POUR IN ABDALI CORPORATE FINANCE HOUSE INVESTMENT BANKING ANNOUNCES LAUNCH OF THE AVENUE IN ABDALI
Corporate Finance House (CFH) Investment Banking has launched The Avenue, a luxury residential, commercial and office complex located directly at the King Hussein Gate, one of the three highly visible primary entrances into Abdali Development, Jordan. The Avenue fuses three district elements around one central social gathering area called The Plaza, through its distinctive design and a built-up-area of 59,000 sqm.

Dubai Construction Company, the developers behind Vertex Towers and Residences, completed the foundation phase of their Abdali project with an impressive cement pour. The exceptional feat took five large concrete pumps and over 450 trips by ready mix trucks to the site. The concrete arrived to the site and pouring took around 24 hours. This was followed by 12 hours of finishing.

We have just finished a very critical stage of the project. Completing it is a true milestone, stated Wissam Otaky, DCCs Jordan area manager. We are proud to have contributed to the long line of achievements that is leading up to the overall master development.

For DCC, it was a decisive step in the stages of this JD90 million residential complex. Vertex Tower and Residences will be a 34 story residential tower with 40 different types of apartments ranging from 100 sqm to the spacious 400 sqm apartments.

Mr. Fawzi E. Farah, CEO of CFH stated that the unique and leading concept of The Avenue harmonizes all aspects of living. It is a prestigious address where people live, work, shop and enjoy life, and it will blend well with the new era of city life brought to Amman by Abdali, where convenience and pleasure lie at the heart of this self-sufficient entity. Shoring and excavation commenced in May 2008 and is expected to be finalized by October 2008. Sales of The Avenue will be launched during Cityscape in Dubai, beginning of October 2008.

Developers News
DAMAC SUCCESS IN ABDALI
Luxury lifestyle provider and developer, DAMAC Properties has reported a successful beginning to its venture into the property market in Jordan. The company, which has a total of seven properties at the Abdali master development in Amman, has sold its entire range of units at two of its developments The Heights a 33 storey residential and retail tower and The Lofts a lower rise development. In addition the company has sold around 90% of its total residential offering and 40% of its commercial space.

Ruyatuk
ABDALI INNOVATION AWARD
Ready. Set. Innovate! With the cooperation of the two main universities in Jordan, Abdali launched the Abdali Innovation Awards for aspiring minds. Students from Jordanian universities have been called to put their motivation, creativity and critical thinking skills to the test. Launched in September 2008 and set to begin in the 2008-2009 academic year, the Abdali Innovation Award is a unique venture in Jordan: an award started by a major player in the private sector, bridging the developing industry and the brightest minds from Jordans upcoming generation. It will have a national impact, especially on major universities including the University of Jordan and Jordan University of Technology and Science while aiming to expand across public universities in 2009-2010. The awards are designed to foster critical and creative thinking, and participants will be required to use their innovation, creativity and practical solutions to explore a variety of architectural and engineering topics. 7 themes are available for university students to choose from: 1- Green Architecture and Engineering 2- Urban Development 3- Intelligent/Smart Architecture 4- Safety, Security, and Disaster Mitigation Innovative Designs 5- Affordable Building Systems

WWW.ABDALIAWARD.JO

Chief Executive of DAMAC Properties Peter Riddoch said the start made by the company had been a huge boost to all involved with the development and also praised master developer Abdali for its support. This is a hugely positive performance by DAMAC in Jordan and we have been delighted by the response from the local market said Mr. Riddoch. Customers and investors have reacted well to the range of properties we have available at our developments in Jordan. The support of master developer Abdali has also been critical in allowing us to obtain the permissions and permits necessary to ensure that our construction schedules are on time.

6- Architecture and Culture 7- Open Theme The Abdali Innovation Award comes under Abdalis fullfledged CSR program, Ruyatuk, which coordinates all the activities sponsored by Abdali and unites them under one roof, with the theme Live your vision. Though each of the programs target different segments of the population, they seek to empower Jordanian youth from all ages and backgrounds. Through Ruyatuk, Abdali aims to take an active developers role, enabling young men and women from all walks of life to make a real change in Jordanian society and fulfill their vision through different artistic and educational means.

Ruyatuk
ABDALI SPONSORS SECOND MONTH OF THE KING HUSSEIN CANCER FOUNDATIONS SUMMER CAMP

Over the years, Abdali has expanded its mission to support efforts and organizations that help address the needs of Ammans citizens. This has seen the company participate in events such as the Dead Sea Ultra Marathon for raising awareness for neurological patients and sponsoring programs aimed at educating disadvantaged youth by equipping them with lifelong skills. The most recent endeavor from Abdalis CSR program Ruyatuk was the 5th annual summer camp for the King Hussein Cancer Foundation which benefits cancer pediatrics patients. Continuing its first month sponsorship, Abdali pledged its full sponsorship for the second month of the summer camp.

The summer camp took place in July and proved to be very successful, with approximately 100 children participating daily. Every day, the children woke up to a colorful variety of activities such as magic shows, theatre, face painting and clown shows. Young participants in the summer camp spent good times with their family members and friends, who all joined in the fun. Approximately twenty Abdali employees were also present on Saturday, 19th of July, a voluntary date open to outside participants.

Abdali employees along with the inhouse patients and their families all joined hands to work on painting a long mural of the new downtown, which was a fun activity for all and a chance for generations to get to know each other. For everyone involved, it was an unforgettable experience.

Abdali: Media Overview


EXECUTIVE MAGAZINE HIGHLIGHTS SUSTAINABLE DEVELOPMENT ROLE OF ABDALI
Abdali continues to attract media attention daily. Recently, an article appearing in Executive Magazine, July 2008, focused on three notable areas: the scope of the project, the unique model of partnership Abdali is based on and the socio-economic impact it is already having on the citys population. Of Abdalis record-breaking scale, the article stated: Breathing modernity into the center of Jordan, the Abdali Urban Regeneration project will truly metamorphose the mundane architectural conventions of the country. As the largest mixed-use development project Jordan has ever seen, Abdali will completely recreate Ammans central downtown district. The visionary collaboration amid partners in Abdali was another subject Executive model the of special attention. noted the partnership development Magazine As the Executive article so clearly pointed out, Abdali has taken the principle of sustainable development to heart, and has made people an intrinsic part of this success. According to the article, Abdali has additionally made the youth, especially the underprivileged segment, a priority. Abdali was praised for the benefits it is already bringing to the Jordanian society, especially through Ruyatuk, its social development arm. Ruyatuk has set up programs that foster a sense of hope as well as nurture lifelong skills in the younger generation. One such program, NAJAH, gives training classes to Jordanians aged 18-24 to better equip them for their future career. Another program under Ruyatuk is Alwaan Al-Abdali, founded in partnership with a global NGO to promote education and community development in poverty stricken areas.

public-private governments

that brought together Mawared, arm; Horizon Development, a firm with stellar experience throughout the region; and United Real Estate Company, one of the leading investment companies in the MENA region and a subsidiary of KIPCO. Abdali was also given credit for attracting a regional group of investors (such as DAMAC, DCC, Saraya, Rotana, CFH Investment Banking, Tameer International, SinoGulf, etc) who will be individually investing in and developing land parcels destined for commercial, business and recreational use.