‘JD3b invested in Dead Sea projects in first-half of 2017’

AMMAN — The volume of investment in existing and undergoing projects in the Dead Sea area amounted to around JD3 billion during the first-half of 2017, most of which is concentrated in the hotel and tourism sector, the Jordan News Agency, Petra, reported on Monday. 

The volume of investment in projects still under development in the Dead Sea Development Area amounted to JD630 million, according to figures by the Jordan Free and Development Zones Group. 

The data showed that JD515 million was invested in the hotel sector alone, with a capacity of 2,500 hotel rooms, providing around 6,300 jobs. The volume of investment in the King Hussein Bin Talal Convention Centre alone was JD20 million, and JD53 million dedicated to a series of tourist facilities.

On the major investment projects, JD2.2  billion was invested in the three and four-star hotel projects, the most prominent of which is the Kuwaiti project SQM Real Estate for the establishment of international hotels, restaurants and shops, with a total investment of JD1.68 billion, providing 3,000 job opportunities, the data showed. 

Porto Dead Sea, a project including five-star hotels, 1,500 hotel apartments, commercial markets and tourist facilities, was estimated at a total cost of JD178 million, providing 3,000 jobs. 

Furthemore, the Saudi project for Fal Arabia for Hotels and Resorts destined to build a four-star hotel with a capacity of 260 rooms, apartments and chalets in addition to a medical complex totalling to  JD35 million. The project is expected to provide around 200 jobs, the figures showed.