Dead Sea, Jordan, May 20, 2007: His Majesty King Abdullah Bin Hussein of Jordan, today, graced the unveiling of a true-to-type model of Samarah Dead Sea Golf & Beach Resort, a JD354 million (US$500 million; AED 1.84 billion) mixed-use development by The Dead Sea Touristic and Real Estate Investment Company, formed by Emaar Properties PJSC and several regional investors.
At a high-profile ceremony held at the Samarah Dead Sea Golf & Beach Resort Sales Centre, His Majesty King Abdullah II witnessed the unveiling of the model of the project by Mr Mohamed Ali Alabbar, Chairman, Emaar Properties. His Majesty King Abdullah II was also briefed by Mr Alabbar on the salient features of Samarah, developed in line with the vision for the Kingdom as envisaged by the King Abdullah II Fund for Development, and the growth potential it offers to the local economy.
The event was held on the sidelines of the World Economic Forum Middle East meeting held in Jordan to highlight the importance of diversifying Arab economies.
“Emaar is aligned to the development vision of His Majesty King Abdullah II, whose initiatives have strengthened the Kingdom’s economy and makes it an ideal destination for significant investments,” said Mr Alabbar. “We are thankful to His Majesty King Abdullah II for inspiring us to share our development expertise, which in turn, has been achieved through the far-sighted policies of His Highness Sheikh Mohammed, UAE Vice President & Prime Minister and Ruler of Dubai.”
He added: “Sheikh Mohammed has moulded Dubai into a regional hub through his focus on a diversified economy led by high-growth sectors such as information technology, industries, finance, real estate and construction. Emaar epitomizes the growth momentum of Dubai, and it is our privilege to be in Jordan, a key emerging market that is powered by the King Abdullah II Fund for Development.”
Samarah Dead Sea Golf & Beach Resort is located along the coast of the Dead Sea and is the pioneering mixed-use, master-planned project in Jordan. The project will further strengthen the tourism initiatives of the Kingdom by serving as a world-class residential, commercial, leisure and retail environment.
“The project will lead to faster economic growth by generating employment opportunities for Jordanians, creating several ancillary industries and lending support to the tourism sector,” said Mr Alabbar.
Samarah Dead Sea Golf & Beach Resort features several hundred luxury apartments and villas, advanced commercial facilities, a full-fledged golf course and club house, retail outlets and several entertainment options that will appeal to a cosmopolitan audience.
Emaar International Jordan is the wholly owned country subsidiary of Emaar Properties, and highlights its geographic expansion strategy to achieve its Vision 2010 of becoming one of the most valuable companies in the world.
