$500m Dead Sea development unveiled by Emaar
The launch of a new $500 million, master-planned residential community along the Dead Sea coast was recently announced by Emaar Properties.
The project will encompass luxury residences, commercial establishments and leisure and entertainment facilities, according to Khaleej Times. Additionally, it will also have retail facilities and a full-fledged golf course and clubhouse.
"With a development value of $500 million, the Dead Sea project by Emaar is one of the largest undertakings in Jordan's property sector recently," said Issam Galadari, Managing Director, Emaar International — Middle East and North Africa.
"We are confident of Jordan's prospects as an emerging market in the Middle East and North Africa region, and with the current project, we are extending our proven strength of developing master-planned residences."
Emaar Jordan has already joined hands with a number of regional and Jordanian investors to form The Dead Sea Company, which will undertake the project in line with the growth plans outlined for the country by the King Abdullah II Fund for Development.
"By integrating commercial and leisure elements in a residential community, we are contributing to the growth of the local economy by creating a self-sustained neighbourhood and offering job opportunities for the local residents," added Galadari.
Emaar Jordan's Dead Sea project aims to boost tourism — one of the key drivers of the national economy.
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