Prime minister lays foundation stone for Marsa Zayed project's first phase in Aqaba

-Mega project developed by MAG Group Holding, on behalf of Abu Dhabi Ports Group, ADC
-Joint venture expected to attract investments, create job opportunities, enhance Aqaba’s tourism activities
-Project is part of agreements signed earlier between Abu Dhabi Ports Group, ADC
-Project entail building old Market with 50 retail shops, yacht club and marina, Aqaba cruise terminal

AMMAN — Prime Minister Jafar Hassan laid the foundation stone on Friday for the first phase of the "Marsa Zayed" project in Aqaba. 

The project is being developed by MAG Group Holding on behalf of Abu Dhabi Ports Group, in collaboration with Aqaba Development Corporation (ADC).

 The ceremony saw the participation of UAE Minister of Investment and Chairman of Abu Dhabi Ports Group, Mohamed Hassan Alsuwaidi.  

The project is one of the most distinguished real estate developments in the Red Sea region and the first of its kind on Aqaba’s coastline, the Jordan News Agency, Petra, reported.

It is expected to strengthen Jordan’s maritime sector, attract investments, create job opportunities, and enhance Aqaba’s position as a leading investment and tourism destination, in line with the objectives of the Economic Modernization Vision.  

The launch of "Marsa Zayed" comes within the framework of the strong strategic cooperation between Jordan and the United Arab Emirates, supported by his Majesty King Abdullah and UAE President Sheikh Mohammed bin Zayed Al Nahyan.

This partnership has led to investment agreements worth approximately $5.5 billion in 2023, including a Comprehensive Economic Partnership Agreement signed nearly three months ago to elevate economic, trade, and investment ties.  

The project is also part of agreements signed earlier between Abu Dhabi Ports Group and the ADC. 

These agreements resulted in the opening of Aqaba’s cruise terminal in January 2023 and the launch of a shareholder agreement in 2024 between Maqta Gateway, and the ADC for their joint venture, "Maqta Ayla." 

This initiative aims to introduce a cutting-edge digital transformation in Aqaba Port’s operations through the "Port Community System."  

"Marsa Zayed" is the first project of its kind in Jordan to integrate residential, leisure, commercial, and port facilities, establishing a comprehensive development model that is expected to drive substantial economic transformation at both local and national levels.  

It will contribute to increasing tourist arrivals by developing world-class hotels and entertainment facilities while supporting the Aqaba cruise terminal and attracting investments in real estate, trade, and logistics, thus enhancing Jordan’s competitiveness in the regional economy.  

Reflecting an ambitious vision for sustainable growth, the project focuses on modern infrastructure, an attractive investment environment, and integrated urban development. 

Spanning an area of 3.2 million square meters, the first phase of "Marsa Zayed" will include "Marsa Zayed Riviera," featuring four residential towers, a marina complex with 1,260 residential units and 117 retail shops, as well as a hotel and serviced apartments with a total of 360 rooms. 

It will also feature the Old Market area with 50 retail shops, the renovation of Aqaba’s lighthouse, a yacht club and marina, and the Aqaba cruise terminal.