With an investment cost exceeding 370 Million USD

September 27,2008, Amman - Jordan; With a vision coming to life and a promise of a better future, Abdali Psc through its sister company the Abdali Mall Company, is making waves once again at Cityscape 2008 by announcing a new project within the New Downtown: Central Market Place. The decision of the company to officially launch the new design of the Central Market Place during Cityscape, emanates from the fact that the exhibition is a melting pot of prospects looking for sustainable opportunities while till date many local, regional and international investors have already signed up to take part in the new downtown of Amman based on their confidence in the offering of the overall project.

The Abdali Mall Company, owner and developer of the Central Market Place Project was established in 2006 when United Real Estate Company -Jordan, and Abdali Psc partnered for that purpose. United Real Estate Company-Jordan owned by United Real Estate Company - Kuwait a subsidiary of Kuwait Projects Company (Holding) (KIPCO) owns a 60% share of the newly formed company while Abdali Psc owns a percentage share of 40%.

Tariq Abdul Salam, Chairman of Abdali Mall Company stated: "The Abdali New Downtown is a projection of the future of Amman, and it will play a key role in placing the Kingdom of Jordan on the regional and international map for business and tourism. Our conviction to be part of this endeavor through developing the Central Market Place project comes not only from the financial opportunity that we see but from our drive to be part of the prosperous new Amman". And to add: "Abdali Psc, have proved to be a serious developer with the right vision, and we are confident that hand in hand we will make history for generations to come."

The Abdali new downtown accounts as the largest project ever encountered in Amman, the capital of Jordan, in terms of magnitude and impact on the various sectors and activities. With a cost exceeding 3 billion USD, and a built up area of more than 1,700,000m² the project will consist of residential apartments, office spaces, commercial and retail outlets as well as entertainment.

With a cost exceeding 370 Million USD, the Central Market Place project is designed as an indoor/outdoor mixed used development, and a natural extension to the pedestrian shopping district of the Boulevard, to become a focal point within the Abdali new downtown, combining elements of entertainment, shopping and luxury living. Built on a plot of land of 32,847 sqm, the project will have a built up area of 300,000 sqm and will be easily accessible from all directions within the new downtown. Designed in an exemplary regional modern commercial complex and in accordance with international standards, the Central Market Place will be composed of a low rise development and entertainment complex and a high rise residential tower with health club amenities.

Jamal Itani, CEO of Abdali Psc. stated that the vision which Abdali aims to deliver to every visitor and resident is getting closer every day now. He Stated: "The Central Market Place project will be unveiled for the first time during cityscape offering potential investors with new opportunities while coming in line with the company's goal of contributing to position Amman as one of the worlds' most advanced business, retail, and luxury destinations. This year, cityscape is expecting around 1,000 exhibitors and 60,000 participants from across the globe, giving us ample opportunity to present our new Downtown project and its components to important investors and developers and interact with developers of other projects in different countries".

The strategically located Central Market Place will become a focal point where entertainment, Shopping and luxury living will converge. With its dynamic and modern design the project will become a sought after destination adding another milestone and a unique energy to the new downtown.

-Ends- 

For more information please contact:
Jo Chemali
Manning, Selvage & Lee
Tel: +961 1 201090
Email: jo.chemali@beirut.mslpr.com

Souraya Dally
Manning, Selvage & Lee
Tel: +971 4 367 6172
Fax: +971 4 367 2615
Email: pressoffice@dubai.mslpr.com

© Press Release 2008