GFH gets nod for $500m project in Jordan

Bahraini investment bank, Gulf Finance House (GFH) has received the go ahead from the government of Jordan to press on with its large-scale Royal Metropolis project.

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By  Richard Agnew Published  April 18, 2005

Bahraini investment bank, Gulf Finance House (GFH) has received the go ahead from the government of Jordan to press on with its large-scale Royal Metropolis project. The project, GFH said, will offer industrial and residential facilities and will cost some US$500 million. “Royal Metropolis signals the entry of GFH into Jordan – it is our first stepping stone in infrastructure development into the Kingdom,” said Esam Janahi, CEO of GFH. “The project complements our regional investment strategy and our vision to be one of the leading players in the region in conceiving and developing major infrastructure projects,” he added. The project, GFH said, supports Jordan’s efforts to attract foreign direct investment. The strategy for the Royal Metropolis project was presented to senior officials of the Jordanian Government late last year. It has two components – the Jordan Gate and The Districts, the latter of which will be the second phase of the project and will comprise several industrial parks. The Districts will also include the 46 hectare Royal Village; a “high-class gated residential community” with a club house, recreational centre, common areas, a shopping mall and a hotel. Located in close proximity to Queen Alia International Airport, Jordan Gate will comprise an office tower, a 5-star hotel, retail outlets and leisure facilities.

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