Saraya contract goes to ICCCC

International firm is set to build residential facilities for workers on the Saraya Aqaba development in Jordan

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By  Conrad Egbert Published  March 18, 2006

The International Communication and Construction Consultancy Company (ICCCC) has won a US $7.8 million (JD5.5 million) contract to build a residential area for engineers and construction workers on the Saraya Aqaba project in Jordan. The deal was awarded by The Aqaba Development Corporation (ADC). Construction is expected to start within a month and, according to the agreement, ICCCC will build the residential area on 30,000m2 of land, creating 3,000 job opportunities during the construction phase. Chairman and CEO of ADC, Imad Fakhoury, said: “The agreement is yet another example of the emphasis ADC places on public-private partnerships.” ICCC general manager, Munthir Halaseh, said the company hopes to expand its activities on the Saraya Aqaba project. “In addition to the residential project, our agreement with ADC consists of renting another plot of land encompassing an additional 30,000m2 to be utilised for the storage of material and equipment.” The Saraya Aqaba project, an affiliate of Saraya Jordan, is one of the region’s largest real estate development and tourism projects, worth over $600 million. The project, a partnership between the Social Security Corporation, the Arab Bank, ADC and other stakeholders, includes a beachfront resort built around a man-made lagoon covering 610,000m2. It is expected to be completed by 2009. The project seeks to transform Aqaba into a world-class tourist destination. Last month, Saraya Holding signed an MoU with ADC for the construction of a private residential project on a 50,000m2 site in the Aqaba Special Economic Zone (ASEZ). The first phase will generate 3,000 jobs, rising to 9,000 by the project’s completion.

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