According to Jordan Times, during the first day of the MEED conference, which is attended by leading Gulf firms, the National Resources Investment and Development Corporation (MAWARED) announced the signing of an agreement with Al Maha Real Estate Development Company. The agreement covers the sale of 323 residential and commercial plots within the pilot project in Madinat Al Sharq, with an estimated area of 390 dunums and a total investment worth JD34 million.
Madinat Al Sharq is a mega real estate project which will provide housing for 500,000 residents by 2025.
Madinat Al- Sharq project which will be located in close proximity to Al Zarqa City. 196,000 sq.m were acquired as part of Phase I of Madinat Al-Sharq development with an estimated investment of JD50 millions.
The first phase of Madinat Al-Sharq includes accomplishing the development processes and providing different residences with competitive prices and preferable conditions.
Among the facilities to be constructed will be Bab Al Madina, a gateway to the commercial heart of Madinat Al Sharq. The souq, which is easily accessible via public transport and pedestrian streets, offers new and diverse retail outlets, including dining, entertainment and cultural facilities.
