Mega housing project near Zarqa
Jordan Times
June 27, 2007
Multimillion-dinar residential city named after Saudi Monarch
AMMAN (Petra) — A multimillion-dinar residential city will be built near Zarqa to tackle overcrowding and help citizens on low and limited incomes buy suitable housing.
The 70,000-unit project, to be built on 21,000 state-owned dunums, was announced at a Royal Court meeting attended by King Abdullah and Saudi King Abdullah, who concluded yesterday a key two-day visit to Jordan.
“The King Abdullah Ben Abdul Aziz Al Saud Residential City” will be designed
to house 370,000 citizens.
Each housing unit will cost JD30,000. Local banks, mainly Islamic, will be
contracted to provide loans to citizens at government-subsidised interest
rates over 20 years. The city will include public facilities, banks, parks,
mosques as well as sports, cultural and recreational centres.
The cost of the land on which the city will be built was estimated at JD600
million, while another JD650 million will go to infrastructure projects.
The National Resources Investment and Development Corporation (MAWARED),
private sector firms and Saudi companies will implement the mega-project, expected
to create jobs and attract investments.
The Custodian of the Two Holy Mosques arrived in Jordan on Wednesday, on the
first such visit by a Saudi King in almost 25 years, to a cheerful welcome
by thousands of Jordanians who lined the streets of Amman to express joy at his
visit.
He held talks with King Abdullah on bilateral ties and Middle East issues.
The two leaders warned of the “serious repercussions” of the developments in
the Palestinian territories, stressing that Palestinian infighting and rift
provides Israel with a pretext to evade its peace commitments.
They also focused on mechanisms to cement Jordanian-Saudi cooperation in
various fields, where they stressed keenness to build on the existing relations.
King Abdullah voiced appreciation of Saudi Arabia’s support for Jordan’s
plans to overcome the harsh economic situation caused by rising oil prices.