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Aqaba: Dubai's Jumeirah, which operates the seven-star Burj Al Arab, is developing three hotels as part of the Saraya Al Aqaba project in Jordan, a top Jordanian official said.
Hosni Abu Gheida, Chief Commissioner of Aqaba Special Economic Zone Authority (ASEZA), said his organisation is keen to forge partnerships with UAE investors.
He said in Saraya Al Aqaba project at least three hotels are being built by the Jumeirah Group. The new projects by UAE investors will be launched soon and most focus on tourism and real estate.
Emirati businessmen are very interested in investing in Aqaba projects, which are mostly attracting GCC investors," he said.
Saudi investors are the first in terms of value followed by Kuwaitis and then Emiratis who have invested $5 billion."
ASEZ was officially launched in 2001 and celebrated its seventh anniversary recently.
"ASEZ succeeded in attracting $8 billion, exceeding its $6 billion target for 2020 by 133 per cent." Abu Gheida said.
He attributed the success of the economic zone to proper legislation, sound environment and the authority's independence in decision-making, in addition to a successful promotion campaign and good planning.
"ASEZ is striving to create, regulate and sustain a globally competitive investor-friendly environment," he added.
Aqaba is the only beach in Jordan spanning 27 kilometres on the Red Sea. It shares borders with five countries - Saudi Arabia, Iraq, Syria, Palestine and Egypt.
"It was very necessary to implement special laws and terms for the ASEZ in order to make a difference in development plans" Abu Gheida said.
Part of the ASEZ's development plan is to develop local human resources.
"Our projects created about 25,000 jobs so far, providing employment to 15,000-17,000 Jordanians."
National housing
Meanwhile, ASEZ officials said a 590 million dinar mega housing project will be implemented in Aqaba.
The project includes 12,000 residential units, 6,000 of which will be allocated as part of King Abdullah's initiative.
The 'Decent Housing for Decent Living' initiative was launched in late February, targeting limited-income citizens. The project will be constructed in several phases, with phase one including the construction of 500-1,500 units by the end of this year.
A recent household and population survey, conducted in December 2007 by the Department of Statistics, estimated that the Aqaba area had 98,400 residents in 2004-07, and a growth rate of 4.3 per cent, compared with 2.3 per cent at the national level.
The survey also indicated that 82.1 per cent of the population was Jordanian and 17,133 non-Jordanians were staying in ASEZ's 375-square kilometre area during that period.
Port relocation
Imad Fakhoury, director of ASEZ's investment arm Aqaba Development Corporation, said, "The plan to relocate the main port to the southern tip of the zone will help give the final shape of the city as a primarily tourist attraction."
He said the relocation means that more waterfront areas will be open for tourism investments.
More hotels on the beach are the answer to the growing number of tourists to Aqaba, which stood at over half-a-million in 2007.
The port relocation plan is expected to attract more than three billion dinars in investments, said Fakhoury.
It is expected to create more than 30,000 jobs over the next 20 years.
The port's cargo handling capacity will double from 30 million tonnes to more than 60 million tonnes, Fakhoury added.
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