MAG Group Holding, a leading real estate group based in Dubai, has been selected by AD Ports Group as lead developer for the first phase of Marsa Zayed, a major beachfront resort and residential community coming up on the Red Sea in Aqaba, Jordan.

 

Marsa Zayed is a transformational project to turn a 3.2 million sq m section of Red Sea beachfront into a tourism and business hub and a southern gateway to Jordan’s principle attractions, the Unesco World Heritage Site Petra and the Wadi Rum Protected Area.

 

The contract was awarded by AD Ports Group, the integrated trade, transport and logistics group based in Abu Dhabi, which is the land owner for the project, said MAG Group in a statement.

 

AD Ports Group developed and is operating the Aqaba Cruise Terminal, which opened in January 2023, under an agreement signed with and Jordanian state-run Aqaba Development Corporation (ADC) in 2021.

 

Marsa Zayed is a beachside real estate project collaboration strongly backed by the UAE and Jordanian governments to bolster the Jordanian coastal city’s position as a regional tourism centre and a gateway for travellers visiting the Red Sea.

 

As per the deal, MAG Holding aims to attract investors and oversee the development of Phase 1 of Marsa Zayed, which will span 1.2 km of Red Sea beachfront.

 

The project includes Zayed Riviera, which will house four residential towers, a Marina with around 1,260 residential and 117 retail units, a hotel and hotel apartment with a beach club, an Old Souq marketplace with 50 retail shops, restoration of iconic Aqaba ’Minerat, and a yacht club and marina, as well as a visitors’ centre.

 

At the project initiation ceremony in Aqaba, AD Ports Group and MAG Group launched an international campaign to promote the first phase of Marsa Zayed, which the organisers expect will be one of the Middle East’s most exciting tourist destinations.

 

Adding pace to its strategic plan to enhance maritime and tourism in Aqaba, AD Ports Group had last year signed a shareholders’ agreement between its digital arm, Maqta Technologies, and Aqaba Development Corporation (ADC) for their existing joint venture company, Maqta Ayla, said the statement. 

 

The joint venture will revolutionise Aqaba’s port operations by implementing a Port Community System (PCS) that leverages Maqta Gateway’s expertise, marking the first-ever export of Abu Dhabi’s port digitalisation solution,. it stated.

 

An active investor in the Red Sea region, AD Ports Group has also signed long-term concessions to develop and operate cruise terminals at the Red Sea ports of Safaga, Hurghada, Al Sokhna, and Sharm El-Sheikh, and to build and operate a multipurpose port in Safaga and a Ro-Ro terminal in Al Sokhna, it added.

 

Moafaq Ahmed Al Gaddah, the Chairman and Founder of MAG Group Holding, said: "We are excited to be part of what I consider to be one of the most exciting real estate development projects in the Red Sea region, one that not only will transform the economic potential of Jordan’s maritime resources, but lead to a vibrant coastal ecosystem that stimulates economic growth across this part of the Middle East."

 

"We deliver our award-winning services to local and international customers in such a way that they most importantly benefit our customers and the communities in which we operate," he stated.-TradeArabia News Service