The Land International Investment and Real Estate Development Company signs a JD35 million contract of Real Estate Development in Al –Abdali
The Land International Investment and Real Estate Development Company has signed a contract with Abdali Investment & Development PSC to purchase 4540 s.qm lot in Al-Abdali’s south eastern area near the Palace of Justice. The contract was signed by Mr. Basel Saeed, The Land General Manager and Jamal Itani, Al-Abdali General Manager.
Mr. Saeed stated that The Land will start a JD35 million project in Al-Abdali where four buildings will be erected with the highest quality and standards. Three of these will initially consist of eight floors; and the fourth Tower will include twenty floors.
Mr. Saeed explained that the three years project is expected to start during the last quarter of 2006 and expected to finish during 2009. This project is considered one of the largest projects in Al Abdali.
Mr. Saeed also added: “the development would principally be designed for office space. The total built- up area is around 42,000 sq.m.
It is also noteworthy that The Land International Investment and Real Estate Development co. has started the first phase of Madinat Al- Sharq project which will be located in close proximity to Al Zarqa City. The company acquired 196,000 sq.m as part of Phase I of Madinat Al-Sharq development with an estimated investment of JD50 millions.
The Land’s first phase of Madinat Al-Sharq includes accomplishing the development processes and providing different residences with competitive prices and preferable conditions. This is inline with his Majesty (King Abdulah II)’s vision that securing residences for all citizens in Jordan as one of the major needs in the Kingdom.
The Land International Investment and Real Estate Development Company is considered one of the largest companies in the field of investment in the gulf region and Jordan.
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