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Al Maabar Awards ‘Program Management’ Contract to KEO International Consultants - Jordan’s $10 billion Marsa Zayed development to be overseen by KEO International Consultants - KEOIC.com
Al Maabar Awards ‘Program Management’ Contract to KEO International Consultants

 

PRZOOM - /newswire/ - Kuwait, Kuwait, 2009/07/01 - Jordan’s $10 billion Marsa Zayed development to be overseen by KEO International Consultants - KEOIC.com.

   
 
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KEO International Consultants has announced that it has won a six month Program Management contract from Al Maabar, the Abu Dhabi based International real estate development investment company, to work on Aqaba’s $10 billion Marsa Zayed development. Al Maabar’s landmark project, which is the largest development to take place in the history of the region, stretches over a 3.2 km² of prime real estate in the port’s city of Aqaba, Jordan’s sole maritime gateway. Groundbreaking for this historic project is scheduled in early 2010 and with over 6 million sqm of built-up area, it is the largest tourism project in Jordan’s history. Named in memory of the Late Sheikh Zayed Bin Sultan Al Nahyan of the United Arab Emirates, the iconic development will include high-rise residential towers, retail, recreational, entertainment, business and financial districts and several branded hotels. Several marinas will significantly add to the current berthing capacity and will help transform Aqaba into a premier yachting destination. There are also plans for a state-of-the-art cruise ship terminal, which will be designed as a contemporary tourist landmark and a welcoming gateway to Aqaba.

Commenting on the contract award, Al Maabar’s CEO, Mr Abdallah Hageali, said: “Our Marsa Zayed project is one of the most significant projects under development in the region. A project of this scale will act as a major economic stimulus and its impact will not only be felt in Aqaba but also throughout Jordan and the wider region. “We have awarded this contract to KEO International Consultants because their vast experience and professionalism will help guarantee the success of this iconic development,” he added.

In addition to providing program management for the Marsa Zayed project, KEO will also be responsible for master planning, landscape design, infrastructure design, marketing, promotion and validation, feasibility studies, traffic and environmental impact assessments, design reviews and cost related services. KEO will also be responsible for identifying, tracking, managing and reporting on project risks and opportunities throughout the period of the contract. Preliminary assessments will be conducted on critical issues including port relocation, variations of construction costs, land reclamation, cruise ship access, feasibility and market conditions. Donna Sultan, CEO of KEO International Consultants, said: “KEO will be there every step of the way to ensure time, cost and quality are maintained. This project occurs at a critical time in the global economic downturn, as developers seek best value and returns. We appreciate the confidence Al Maabar has placed in us and look forward to this challenge.”

About KEO International Consultants
KEO International Consultants (keoic.com) is a global provider of total professional consulting solutions in the construction industry. Founded in 1964, the firm is internationally recognized as a dynamic and highly capable leader in the delivery of Planning, Architectural Design, Civil Engineering and Project Management Services. Our reputation continues as one of the most respected and reliable firms today gained through its total and consistent commitment to quality and client service. Whatever the specific project need, KEO responds to each project challenge with flexibility, talent, ingenuity & integrity. KEO today is strategically located in ten offices with a staff of over 1,800. KEO brings together extensive capabilities to each project and to all of its clients, not just through its talented and experienced professionals but also as a strategic partner to our clients.

About Al Maabar

Al Maabar Jordan Investment Company is a subsidiary of Al Maabar International Investments, a joint venture company formed by Abu Dhabi's largest real estate developers namely Mubadala, Aldar Properties, Sorouh Real Estate, Reem Investments, Reem International and Al Qudra Holding. Al Maabar Jordan signed an agreement with the Jordanian government to develop Marsa Zayed, a $10 billion real estate project in the Red Sea port of Aqaba.

More Details on the Marsa Zayed Project

Aqaba's $10bn Marsa Zayed development is named in memory of the UAE's Late Sheikh Zayed Bin Sultan Al Nahyan, It is the biggest real estate and tourism project to take place in the history of Jordan and is also one of the most significant real estate developments taking place in the region. It will include a state-of-the-art cruise ship terminal, and several marinas that will help transform Aqaba into a premier yachting destination. The development will offer about 3,000 hotel rooms, more than 18,000 residential units of premium villas, villas, townhouses and apartments, and at least 300 marina berths. It is expected the project will generate over 15,000 jobs for the local economy in Jordan.

 
 
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Al Maabar Awards ‘Program Management’ Contract to KEO International Consultants

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Contact: Brad Batcheller - KEOIC.com 
+965 2461 6150 BradB[.]keoic.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any KEO International Consultants securities in any jurisdiction including any other companies listed or named in this release.

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