Cornerstone, the region’s complete integrated real estate solutions company, announced its launch in Jordan Yesterday opening offices in Amman, Zarka and Aqaba that will provide professional real estate and property management solutions to developers, buyers and investors for the growing number of multi-million dinar projects being constructed across the Kingdom.
Cornerstone CEO, Ziad Bushnaq, spoke during the launch ceremony held at the company’s premises in Amman, stating that “Jordan has witnessed exponential growth in the real estate sector in recent years, and we strongly believe that Cornerstone’s personalized and professional services are in great demand from developers, investors and end users alike. With the investor friendly real estate environment in Jordan, we believe this demand will continue to grow and hope that Cornerstone’s quality services will play an important role in the support and further development of this sector in the Kingdom.”
After 6 months of intensive hiring and staff training, Cornerstone Jordan has already commenced operations in the Kingdom, securing and selling over 50% of two major projects in Jordan (Madaen Al Shorouq and Seascape Project) and with prospect agreements to manage two commercial towers in Abdali, a resort in the Dead Sea, apartments in Aqaba and commercial projects in Zarka.
Madaen Al Shorouq, currently under construction in King Abdullah Bin Abdul Aziz City near Zarka, is valued at JD 100 million and comprises 1,500-2,000 super deluxe residential apartments, luxurious villas, retail shops and offices at affordable prices, and is expected to be completed by 2010.
Another major project that is scheduled to begin construction before the end of 2008, is the Seascape Project, which is valued at over JD 35 million and comprises 74 luxurious ‘A’ Class residential villas in Yemeniya Heights, Aqaba. The Seascape Project is also expected to be completed by the end of 2010.
Louie Oumeish, Managing Partner of Cornerstone Jordan also spoke during the ceremony, saying that, “Cornerstone's launch in Jordan came as a natural extension to the progressive expansion and growth of the company.” He added, “We believe in the importance of providing specialized services for developers, investors and end users alike to fit each and everyone's needs and that is exactly what Cornerstone aims to accomplish in the Jordanian market.”
The company provides fully-integrated real estate solutions providing customers with a comprehensive range of services including a sales department, a leasing department, the Property & Facility Management Division that specializes in retail, commercial and residential properties as well as mall management, the Project Sales Management Department that works closely with investors and developers from the initiation of a project through to completion, and the Investments Services Department that provides consulting, valuation, research and portfolio management.
Cornerstone Real Estate was established in 2004 in Dubai, and has since expanded to Abu Dhabi, Syria and Jordan.