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We are investing in Jordan because we believe in
its strategic importance in the region. The market
has gone through significant changes in last few
years to embrace privatization, deregulation and
liberalization. Political changes in the region,
the surge in Oil prices and the changes in customer
demands as consequence of 9/11 have created a very
different market outlook in the region and Jordan.
As these events play out and reforms take place,
the whole institution hopefully would adapt to this
new environment, the opportunity will be much bigger
for new investments to come into the market. The
efforts and giddiness of His Majesty King Abdullah
II II are paramount to achieve full turn around
in the reform efforts and the realization of a sustainable
attractive investment environment.
We also look at Iraqi market as an important future
market for our group. We already are very well established
their and have a diversified investment portfolio
in Iraq. What we are investing in Jordan will complement
our future investment plans in Iraq. The knowledge,
expertise and the business network that is developed
in the process of project implementation in Jordan
in the various sectors of Real Estate, Hotel and
Retail business will be fully utilized in our future
investments in Iraq.
Sky Real Estate Development Co.’s flag ship
project in Amman- Jordan. Sky Real Estate is a Jordanian
Co. established to invest in this vital sector of
the economy. Being in Jordan for 15 years, we have
developed good sense of market requirements, however,
the project is composed of an attached 30 story
high Residential Tower and a Hotel Tower. We will
be offering clients who are interested in buying
a residence but are unable to utilize the residence
all year long the option to manage their property
under the same hotel management group. This will
allow clients to recover their investment as well
as utilizing the property when in Jordan.
The residential tower will have 2, 3 and 4 bedrooms
luxury residences and last two floors will have
4 penthouses each with an area of 700 m2. Full amenities
will be available to the residence with a Gym, Coffee
shop, Business Center, a multipurpose hall, Nursery,
and Outdoor Playground for Kids. Each residence
will have 2 parking spaces allocated as standard;
however 4 bedroom residences and Penthouses will
each have 3 Car park spaces.
The Hotel Tower is intended to service Business
travelers and Tourists. It will have luxury suites
of single, one or two bedrooms. It will be ideal
for long stay business travelers who would like
to have good level of privacy and a little bit of
home. Tourists will be located in the hotel tower
and residential tower depending on their needs and
requirements. We expect to finalize the agreement
with the international operator by June 2006, and
then we hope to proceed with construction plans
3rd Q 2006.
The group also has started in Sept. 2005 construction
of a 42000m2 alBaraka shopping mall in the high
end shopping district of Swafieh in Amman. This
project is being developed by a sister company;
AlBaraka Investment & General Trade Co. This
is the largest shopping mall in this district and
will set the standards for quality and Architectural
Style in Amman. We expect this project to be operational
by March.1st.2007.
CEO/ Partner
Jalal Al-Gaaod
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Jordan 
