SAWT BEIRUT INTERNATIONAL

| 21 October 2021, Thursday |

King of Jordan visits Abdali Boulevard Company, praises project success.

“Abdali project is a success story that should be invested in, and benefited from”, said the Jordanian King, stressing the importance of attracting newer and more diverse local and foreign investments, to provide more job opportunities.

The King’s words came during his meeting with a number of Jordanian and Arab investors in the health, tourism, banking and trade sectors in the Abdali Investment and Development Company, owned by 50% of the Horizon Company, for its owner Sheikh Bahaa Hariri.

King Abdullah II pointed out during the meeting, to the importance of cooperation and coordination between both the public and private sectors, in terms of facilitating and developing investments, and intensifying the promotion of the Abdali area as an investment destination in the Kingdom, pointing out that there are success stories in the Abdali project, which can be built upon and benefit from spaces of lands and buildings, stressing the importance of the government removing obstacles facing investors, and review the investment law to further develop and facilitate procedures.

The meeting focused on the investment advantages that Jordan provides, and the importance of maintaining communication with investors, to work on overcoming any obstacles they may encounter, as investors presented their plans to increase investments in the fields of medicine, education and others.

King Abdullah II also visited Abdali Boulevard, which is part of the Abdali Project.
As for the Chairman of the Board of Directors of the Abdali Investment and Development Company, Amer Al-Fayez, who was appointed by Sheikh Baha Al-Hariri and proved his success in leading and managing the company, through the Abdali project, where he managed to add life and vitality to the heart of the capital, Amman, and transform the region into an attractive center for both business and tourism, he affirmed that “the company is working to expand the investments’ base, whether local, Arab or foreign, especially in the health care sector and all its support services.”

Fayez pointed out that the Abdali project includes more than 460 companies, including offices for international companies such as Amazon, Huawei, LG, Bigo and a number of banks, as well as 1,200 hotel rooms and 720 housing units, and provides about 10,000 job opportunities.

He expressed his appreciation for the royal visit, and the King’s support for investment in Jordan, which constitutes an incentive for the private sector, to move the wheel of the economy in order to begin the recovery path, in coordination with the public sector, noting the importance of building on successful partnership between the two sectors.

Abdali project’ first phase, of which 88 percent has been completed, includes investors from Jordan, Lebanon, UAE, Saudi Arabia and Kuwait, with an investment volume of about $2.4 billion, while the work plan for the second phase will take into account the market’s needs and requirements, according to Fayez.

The meeting was attended by the Head of the Royal Hashemite Court Youssef Hassan Al-Issawi, the King’s Office Director, Dr. Jaafar Hassan, and Chairman of the Joint Chiefs of Staff Major General Yousef Ahmed Al-Hneiti.