In line with Saraya Aqaba's commitment to cater for all the needs and requirements of the Saraya Aqaba project, its residences and visitors, providing a luxury environment supported by the ultimate services, Saraya Aqaba Real Estate Development Company PSC, represented by its General Manager Mr. “Shadi Ramzi” Majali, and PBI Aqaba Industrial Estate LLP., represented by its Manager Mr. Sheldon Fink, signed two agreements to conclude a sale of two pieces land to Saraya Aqaba.
The lots of land, the first comprising 16000 square meters and the second comprising 13612 square meters, will be used for the purpose of constructing and operating buildings for central laundry, workshops, warehousing and storage use for Saraya Aqaba.
Mr. "Shadi Ramzi" Majali, General Manager of Saraya Aqaba said: "Our services are the core of the Saraya Aqaba project operations, as they represent the continuity and the added value we provide. These two sites will be developed to cater for the offsite facilities from central laundry, to workshops, to warehousing and storage, ensuring a quality standard of living to the residents and end users, while also providing the necessary support for the project".
Mr. Sheldon Fink, CEO of PBI Aqaba added: "While our main purpose is marketing the Aqaba International Industrial Estate as a prime location for high value added industry and logistics, we are also very involved in providing land and support for the services required by the leading developers of land for tourism, quality residence and commercial centers. Saraya Aqaba is an outstanding example for such a developer".
The agreement proves yet again Saraya Aqaba's commitment to expand as viewed necessary for the advancement of the project. Earlier in August, Saraya Aqaba signed an agreement with the Aqaba Development Corporation (ADC), purchasing 88 dunums of land, valued at USD60 million, to establish staff housing for the employees of Saraya Aqaba.
Furthermore, Saraya Aqaba is currently engaged in the construction of its pioneering destination, situated on the northern shores of Aqaba, over an area of approximately 617, 000 square meters, around a man-made lagoon, adding 1.5 kilometers of sea-front to the Gulf of Aqaba. The Saraya Aqaba destination is expected to commence operations by the end of 2009, at an estimated cost of not less than one billion US dollars.
About Saraya Aqaba
Saraya Aqaba is Saraya Holding ltd first project located on the western tip of Aqaba on the shoreline around a man-made lagoon. The project will commence operations in the year 2009, adding approximately 1.5km of beachfront to the Gulf of Aqaba. The project comprises approximately 617,000sqm (not including Radisson SAS land) of master planned development combining shopping, dining, entertainment, freehold accommodation and cultural activities within the context of an authentically styled ancient city. The approximate total cost of the project is one billion US dollar.
Saraya Aqaba features four premium 5-star hotels and two boutique hotels. Jumeirah, the Dubai-based luxury hospitality group, will operate two hotels and one boutique hotel in addition to operating the Water Park while it will manage Grand Villas and Villas in this new large scale project. Starwood Hotels and Resorts Worldwide Inc will operate the other two hotels and a boutique hotel. Furthermore, there will be different residential units, a convention center, and an old souk. Saraya Aqaba aims to cater to the needs of Aqaba’s local residents, as well as regional and international visitors and businessmen.
Saraya Holdings Ltd founding partners in this project are the Social Security Corporation (SSC), the Arab Bank, the Aqaba Development Corporation (ADC), and a number of individual and corporate investors.
The exclusive build contractor for Saraya Aqaba project is Saudi Oger Ltd, ensuring the delivery of the highest specifications and construction standards.
About PBI Aqaba
PBI Aqaba is the developer of the Aqaba International Industrial Estate (AIIE) pursuant to a concession from Jordan Industrial Estates Corporation.
AIIE has a total area of 1,700,000 square meters. The first stage of development (570,000 sq. meters) has been successfully marketed and is in under construction. The balance of AIIE area, is presently under development and marketing has commenced. PBI Aqaba is a partnership of Parsons Brinckerhoff International, a leading U.S based planning and project management company, SUTA Construction, a Turkish land developer and other individual and corporate investors.
