UAE-based construction firm Arabtec has secured a $197m contract from Al Maabar International Investment to build a hotel and residences at the St. Regis Amman project in Jordan.
As per the deal, Arabtec will construct three 17-storey towers connected by a podium with three basement levels of parking.
One tower will house the 260-room St. Regis Amman Hotel while the other two towers are intended for residential purposes and will be linked by an external façade.
The development will feature 25 shops on the podium level, plus four restaurants, a café, a pool, a fitness centre, a spa, meeting and event space, a business centre and private parking.
Plans also include 79 private residences containing two, three and four bedrooms along with duplexes and five-bedroom sky villas.
Other amenities and recreational facilities include a pool, fitness centre, lobby, business centre, playgrounds, executive lounge, private theatre, butler service and space to host meetings and events.
Arabtec managing director and CEO Hasan Abdullah Ismaik said the project will add a new landmark to Amman’s skyline.
"For Arabtec, this is a significant step into Jordan and an important development in our strategy to expand our regional footprint," Ismaik said.
Work on the project is expected to start in July 2013 and take 33 months to complete.
Arabtec beat off competition from ten other companies to secure the contract.
Al Maabar managing director Yousef Al Nowais said, "Jordan is of great strategic importance to the Middle East and North Africa region and we are committed to driving long-term sustainability and economic growth to Jordan through our mixed-use development projects."
Al Maabar is a partnership between Abu Dhabi’s real estate and investment firms Mubadala Development, Aldar Properties, Sorouh Real Estate, Al Qudra Holdings, Reem Investments and Reem International.
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