AID receives Omani delegation over investment cooperation

Amman: Jordan's Abdali Investment and Development (AID) hosted an Omani delegation, headed by Minister of Commerce, Industry and Investment Promotion, Qais bin Mohammed Al Yousef. The visit comes at invitation of Jordan's Ministry of Investment to follow up on outcomes of the Royal Visit to Oman in late 2022 and enhance joint investment opportunities and cooperation ways in various fields. The AID Chairman, Amer Fayez, said the visit reflects importance of Abdali, Jordan's largest mixed-use real estate development project, as a model of "effective" regional cooperation and investment that contributed to attract Omani investments. Fayez also noted Abdali also helped launch partnerships to serve visions of the two countries' wise leadership by developing joint action and enhancing pan-Arab economic cooperation and integration. During the visit, the delegation was briefed on AID's "pioneering" experience in developing modern multi-purpose development projects, according to an AID statement. The delegates al so learned about Abdali project's investment cost exceeding $5 billion to make Amman resemble the world's modern cities and render the capital a medical, cultural, commercial and economic and touristic attraction, the statement pointed out. Meanwhile, AID Chief Commercial Officer, Kanan Jaradat, said the project's second phase aims to invest "feasibly" in non-traditional sectors, which will be implemented on an additional area of 134, 000 square meters. Talks went over investment cooperation in Abdali project and its expected profitable returns by developing its second phase, the statement said. Source: Jordan News Agency