"Abu Dhabi Ports" Chosen "Mag Holding" A major developer for the Zayed Zayed project in Aqaba, Jordan
Abu Dhabi, January 31/ WAM/ The Abu Dhabi Ports Group announced the selection of the “Mag Holding Group” as a major developer for the first stage of the “Marsa Zayed” project, a coastal complex that includes a coastal resort and a residential community overlooking the Red Sea coast, in the Jordanian city of Aqaba.
The “Zayed Zayed” project aims to convert an area of 320 hectares “3.2 million square meters” from the waterfront overlooking the Red Sea into an integrated tourist and economic center, in addition to being a southern gateway to the most important tourist attractions in Jordan, such as the archaeological site of Petra included in the UNESCO List of Heritage World, Wadi Rum reserve.
The “Mag Holding Group” will attract investors and supervise the construction work to develop the first phase of “Marsa Zayed”, which will include 1.2 km from the sea front for the Red Sea, and includes “Marsa Zayed Riviera”, which includes four residential towers, and Marina contains about 1,260 units Residential and 117 commercial units alongside a hotel, hotel apartments, beach club and an old market that includes 50 stores, in addition to the restoration of the iconic Aqaba lighthouse, the yacht and marina club, and the visitor center.
Captain Mohamed Jumaa Al Shamsi, Managing Director, CEO of Abu Dhabi Ports Group, said that the development of the first phase of the “Marsa Zayed” project is an important step in the framework of the group’s strategic plan to support the efforts of the Jordanian government in developing Aqaba to be a leading global destination for tourism and economic development.
He added that the inauguration of the first phase of Marsa Zayed comes to achieve the vision of our wise leadership in adding an economic value to this vital region.
The price of government partners in the Aqaba Development Company and the real estate development partner “Mag Holding Group” on the cooperative effort to advance the growth in the city of Aqaba.
For his part, Mowaffaq Ahmed Al -Qaddah, founder and chairman of the Mag Holding Group, said, “We are proud of our participation in one of the most distinguished real estate projects in the Red Sea region, a project that will enhance the economic tributaries of the maritime sector in Jordan, and will establish an active coastal system that stimulates economic growth in The Middle East region, and through this project we will provide our many awards to our local and international customers in order to achieve the mutual benefit for the owners of the relationship and the societies that we work with.
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