adc goes platinum for cityscape asia

Published February 13th, 2007 - 02:07 GMT

Aqaba Development Corporation (ADC) has signed-up as platinum sponsor for Cityscape Singapore which is being held at the Suntec Singapore International Convention & Exhibition Centre on 10-12 April 2007. ADC aims to use the three-day event as a platform to source foreign direct investment (FDI) and benchmark their unique development. The two-phase US$ 3 billion project will relocate the existing port facilities 20 kilometres to the south whilst developing the vacated seafront with residential, commercial and tourism developments.

Neil Hickman, Exhibition Director, Cityscape Asia commented, “This is obviously a strategic move by ADC. A top-level delegation has recently concluded a week-long visit to Singapore meeting with business leaders and government officials. On the agenda was ADC’s desire to benchmark their project with international best practice as well as sounding out potential FDI partners. Cityscape Asia has the credentials to help ADC further their strategy in S.E. Asia.”

The delegation led by Nader Dahabi, Chief Commissioner of Aqaba Special Economic Zone Authority (ASEZA) and Imad Fakhoury, Chairman and CEO of ADC, was received by Singapore's Minister of Foreign Affairs, George Yong-Boon Yeo. The fact-finding mission examined Singapore’s development model, whilst promoting Aqaba as a business and leisure destination with investment and development opportunities.

The delegation also met with Jurong a master developer in Singapore to discuss built environments, including commercial, residential, industrial, institutional, recreational, planning and infrastructure developments. The Jordanian officials also met with top management at the Port of Singapore.

Speaking about the visit, Fakhoury said, "We have established relationships with a number of the leading organisations and businesses that played an essential role in shaping the Singapore development model. In a reciprocal move, top consultants shared their insight and expertise, whilst also expressing an interest in pursuing opportunities with us in Aqaba."

The Main Port facilities in Aqaba, which sit at the heart of existing major urban development project will be relocated to the southern border area with deeper waters and upgraded services, expanding handling capacity for Jordan’s only port facilities. Aqaba port currently handles approximately 21 million tonnes of cargo per annum and the vacated land represents prime waterfront property on the Aqaba town corniche.

The 200 hectacre site incorporates all that Aqaba has to offer as an age-old city as well as a world-class Special Economic Zone to present residents and tourists with a vibrant and engaging city centre, and investors with lucrative, flexible and unique investment opportunities. The area is currently granted a low-tax and duty-free status, features a pristine coastline and terrain and is surrounded by some of the most spectacular historic sites to be found in the world which include Petra and Wadi Rum.



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