Amman, keeping things class-y: Abdali Boulevard to open for business on June 11
Abdali Boulevard, a JD300-million-project, is scheduled to open for business on June 11, developers said Tuesday.
The Boulevard is part of the $5 billion Abdali project, the largest mixed-use urban development scheme in Amman.
The entire mega- project, Abdali, is expected to be ready within six to seven years, George Amireh, chief executive officer of Abdali Investment and Development Company, told journalists on Tuesday during a media tour at the site.
Amireh indicated that the project, which developers call the New Downtown of Amman, spans over 384,000 square metres with a built-up area of 1,800,000 square metres that comprises residential, commercial, hospitality, retail outlets, entertainment facilities and serviced apartments.
Asked about the delays, as the scheme was supposed to open in 2010, he mentioned financial troubles faced by some investors after the global financial crisis.
"The entire project will be ready in six to seven years, but, gradually, some big projects such as five-star hotels and the shopping mall will open next year and the year after," Amireh said.
“Abdali will play a major role in shaping Amman’s new identity as a modern and vibrant city for years to come,” he added, noting that the investment will attract many regional and international businesses that consider the Kingdom as a suitable place for their investments.
The developing company, Abdali Investment and Development is a public-private partnership between the government-owned estate developer National Resources and Development Corporation (MAWARED) and Horizon, an international construction conglomerate owned by Lebanese businessman Baha Hariri.
Taher Jaghbir, chief executive officer of Abdali Boulevard Company, said the Boulevard includes high-end retail outlets, in addition to 30,000 square metres of modern office spaces and approximately 400 luxurious serviced hotel apartments, operated and managed by the Rotana Hotel Management Corporation, one of the region’s leading hotel management companies.
Jaghbir explained that the Boulevard consists of a pedestrian spine bordered by 12 buildings that offer 22,000 square metres of retail space to house 120 stores.
The Boulevard rooftop, sized 18,000 square metres, will consist of outdoor swimming pools, sports clubs, spas, lounges and restaurants, he added.
- 2014 and Dubai's realty: from euphoria to caution
- How will plunging oil prices affect Dubai's glittery real estate sector?
- Home prices in Israel makes making ends meet impossible for families
- Putting their eggs in tourists' baskets: why Dubai's real estate developers are shifting to hospitality
- Is Dubai's property market finally displaying 'affordable' tendencies?