AMMAN -- A top executive at the UAE-based Al Maabar on Sunday stressed that there are no undisclosed terms in the investment and development agreement of the old Aqaba Port location.
Speaking to the Jordan News Agency, Petra, CEO of Jordan's Al Maabar Emad Keilani, whose company is to build a multibillion tourism-real estate project in the place of the current port, rejected as baseless reports alleging the existence of a binding article in the agreement under which the government must pay a total of JD200 million annually to rent the project.
He noted that under the agreement signed between the government and the company, the latter will build the $10 billion-Marsa Zayed project, which will feature resorts and real estate facilities, noting that these projects will provide a total of 16,000 job opportunities.
Keilani indicated that the government will hand over the land to the developer during the first quarter of 2013 to commence on construction work.
© Jordan Times 2012
