Aqaba taking Jordan along for the ride
Marsa Zayed envisions a marina development with room for 300 yachts and a cruise ship terminal all surrounded by a mixture of hotel, resort and luxury apartment complexes. The entire project is slated for completion in several years time, when Jordan first signed the development deal with Al Mabaar, a UAE-based real estate firm, in 2008, Jordan news media reported that it would be completed in 2013.
The project is expected to transform the city and bring huge benefits to the country. Throughout the Gulf region, the tourism and yachting sectors have been growing significantly, Dubai has led the region in showing how best to tap the market with the development of their own huge marina complex, the Dubai Marina, which has room for some 370 yachts and is home to hundreds of thousands of people living in high-rise residential units.
It was reported in May 2010 that the UAE’s population had, since 2005, shot up from 6 million to over 8 million people, this influx of expatriates was due in large part to such developments as the Dubai Marina and the more iconic construction of the Palm Islands. Jordan, although not accompanied by the same hype, has been developing its own tourism market. The little Red Sea port of Aqaba has a booming economy, driven by new development of infrastructure for the tourism sector.
Saraya Aqaba was recently completed at a cost of $700 million and features a man-made lagoon, which fronts a luxury resort and a number of villas and townhouses. These residential units have become second homes or holiday homes for many Jordanians and expatriates in the Gulf and further abroad. A Venice-like resort called Ayla Oasis is due for completion by 2017 at a cost of $1 billion, Tala Bay, another man-made lagoon resort was recently completed at a cost of $500 million and in terms of trade, traffic at the city’s container terminal increased 46% last year, despite a rough economy.
In all areas then the city looks set to continue its upward trajectory, especially as the world economy begins to tentatively emerge from the recession, and Jordan seems set to enjoy the ride, much like the UAE has enjoyed Dubai’s rise to popularity.
The repeated comparison with Dubai is deliberate, for the Marsa Zayed project is also an important hallmark of regional cooperation and interdependence. Jordan needs Abu Dhabi because we want growth and we want a share of the tourism market that is developing so quickly in the Gulf, but Abu Dhabi needs Jordan because the UAE’s tourism market is largely saturated and new markets are needed.
The significance of the event was apparent when it was first announced in 2009 and when it was finally launched in May of 2010. Some of the most prominent figures in UAE and Jordanian politics were present for the announcement, which was made during a gala dinner in the Kingdom’s capital.
“Al Maabar is committed to delivering added value to its partner countries,” said Al Nowais, Managing Director of the Abu Dhabi-based real estate giant. “This is achieved through job creation, stimulating economies and the development of local skills and capabilities. With the Prime Minister of Jordan looking on, Al Nowais added that the name Marsa Zayed was chosen in conjunction with his Majesty King Abdullah in order to honor the memory of Sheik Zayed Bin Sultan Al Nahyan, the late ruler of the UAE and the man under whom the country rose to become a regional powerhouse.
In May of 2010 when the first phase of the three stage project was officially commenced, His Majesty King Abdullah and UAE Deputy Prime Minister and Minister of Interior Sheikh Saif Ben Zayed Al Nahayan were both in attendance, marking the significance and high-profile nature of the development.
Encompassing 3.2 square kilometers, the development is expected to be completed by 2013, along with a number of other major development projects, which will transform the city and the Kingdom. By 2013 the entire port at Aqaba will have been relocated, making room for further recreational development, the city will have been connected to the country’s rail network, making the transport of people and goods much easier and allowing the for the development of our local tourism industry as well.
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Aqaba taking Jordan along for the ride
Aqaba is now officially the site of one of the largest infrastructure developments in the Middle East region, and certainly the largest development ever undertaken in Jordan’s history. Marsa Zayed is a mammoth project worth $10 billion and on its own is expected to more than double Jordan’s tourist revenues. Marsa Zayed is one in a long list of significant developments taking place in Aqaba, which is set to become the premier tourist destination of the country and a leading destination in the Gulf, but this project is notable for its sheer size.
Marsa Zayed envisions a marina development with room for 300 yachts and a cruise ship terminal all surrounded by a mixture of hotel, resort and luxury apartment complexes. The entire project is slated for completion in several years time, when Jordan first signed the development deal with Al Mabaar, a UAE-based real estate firm, in 2008, Jordan news media reported that it would be completed in 2013. Read more
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