LOCATION: Middle East. STAGE: Funding. PROJECT BRIEF: A multi-purpose real estate project which offers services such as serviced residential apartments, business offices, restaurants, and cafes, swimming pools, and parking lots. The project consists of 19 floors with different areas, divided as follows.
Three floors allocated for parking lots with an area of 4,310 m² per floor.
Three floors with an area of 2,615 m² per floor for hypermarket and different retail shops.
Twelve floors with an area of 1,828 m² per multi-purpose floor. The property can be used as residential apartments or commercial offices because the property official use is "multiuse".
The area of the roof floor is 1,000 m² for restaurants and cafes.
Security, cleaning, lighting, and maintenance services are provided for the project to ensure always a safe and clean environment.
The rental price of the roof and commercial floors is JD 200 - 250 per m2. The sale price for multiuse floors will be around JD 1,700 per m2. It should be noted that the number of employees in the project will be 22 Jordanian employees.
PROJECT STATUS: Pre-Development. PROJECTED RETURN ON INVESTMENT: The average return on investment during the five years is around 18.9%. The Internal Rate of Return of the project is around 33%. LICENSES: The investors need to finish licensing and routine construction procedures. CONTRACT ESTIMATE: Not applicable. LAND: The government will provide the land for lease at discounted prices. COMMERCIAL OPERATION DATE (COD): Twenty-four months from funding. TAX INCENTIVES & SUBSIDIES: Please inquire. PROJECT SIGNIFICANCE: Please inquire.
CURRENT OWNERSHIP: It is a partnership between the government and the private sector. CAPITAL COST ESTIMATE: USD 39 Million. AVERAGE ANNUAL REVENUE: The average five-year project will earn USD 15.7 Million. TARGETS: Please inquire.