Earlier this year, MAG Group Holding, a Dubai-based international real estate developer, was appointed by AD Ports Group as the lead developer for the first phase of Marsa Zayed, a significant waterfront resort and residential project on the Red Sea in Aqaba, Jordan. Enrico Chhibber sits down with Mr. Sar Haffar to find out more.
Marsa Zayed, a 320-hectare development on the Red Sea, aims to transform Aqaba into a dynamic tourism and business hub. As Jordan's southern gateway, it provides easy access to key attractions like Petra and Wadi Rum. Supported by the UAE and Jordanian governments, the waterfront project aims to promote Aqaba as a regional tourism centre and a principal entry point to the Red Sea.
Marina World met with Mr. Sar Haffar, the Region Director for MAG Group Holding's project in Jordan in Dubai to discuss how MAG Group Holding got involved in this waterfront development. The conversation covered the project's objectives, its role within the broader development activities in the Red Sea, and future plans.
Q: Can you elaborate on how MAG Group Holding became involved in the Marsa Zayed project?
A: Our involvement was driven by a mutual benefit approach initiated by AD Ports Group. While they specialise in trade, industry and logistics, real estate development is relatively new to them. Recognising the advantage of our extensive experience in this field, they sought a partnership that is considered a 'lethal combination' - melding their operational expertise with our capability to invigorate the real estate aspects of the project.
The project itself is complex, encompassing diverse components that require varied expertise. AD Ports Group leverages its logistics and maritime expertise, critical for managing those elements of the development. Moreover, significant sections of the project are dedicated to entertainment, residential, and hotel facilities, which demand the focused attention of a seasoned real estate developer to create vibrant, functional environments. Our role at MAG Group Holding is to bring these areas to life, ensuring a dynamic and well-balanced development.
In addition, the strategic location of the site in Aqaba, a hub for both industrial and tourism activities, creates a unique dynamic for development. The synergy between these sectors, coupled with our well-established relationship with AD Ports Group, were key factors in establishing this partnership.
Q: Could you tell us more about the initial phase of the Marsa Zayed project, specifically the Riviera Heights development?
A: The launch of Riviera Heights at Marsa Zayed, marked the beginning of this ambitious development. Riviera Heights will feature four towers, offering a variety of residential options including one-bedroom, two-bedroom, and three-bedroom units, along with luxurious penthouses.
During the initial stages of the project, we employed the cut and fill technique to prepare the terrain, ensuring it was optimally configured for construction and infrastructure development. This process was crucial when we first visited the site for the official announcement. Our efforts are closely coordinated with the ongoing infrastructure enhancements and the broader development of Riviera Heights.
Moreover, adjacent to this development, a significant project is taking shape: the construction of a scientific aquarium that will double as a research center. Developed by the Jordanian government in collaboration with AD Ports Group, this facility is designed to complement our developments, drawing more visitors and enhancing the area’s appeal.
These initiatives are interconnected, forming a cohesive strategy where each element supports and enhances the others. By integrating these developments with both functional and scientific features, we aim to create a comprehensive and attractive destination that will significantly boost visitor numbers and encourage local participation.
Q: Given the developments in Saudi Arabia and Egypt, do you view these initiatives as competition for Marsa Zayed, or do you see them as complementary?
A: These initiatives are complementary to the other operations that AD Ports Group manages in the Red Sea region, especially the cruise terminals. Such cruise activities stimulate regional traffic by bringing in visitors who do more than just stop - they explore.
This commercial activity greatly benefits the Aqaba region. The project’s proximity to historical sites, along with its entertainment offerings, creates a unique draw for tourists. They have the opportunity to visit nearby historical landmarks such as Petra and Wadi Rum in Jordan, and if time allows, they can also explore the Dead Sea.
Currently, we are not in direct communication with the major development projects happening in Saudi Arabia. However, from a strategic standpoint, we anticipate that our project will complement the other developments there such as NEOM, which is geographically closer to us than Jeddah, for example. Once our projects and the marina are activated, we expect to see an increase in land-based traffic from NEOM to Aqaba. Visitors will likely travel by car to explore what Aqaba has to offer.
Q: Any upcoming developments you would like to unveil?
A: This is only the initial phase. Our plan is to develop the extensive 3,000,000 square-metre area of the project. Considering the current market dynamics, we recognise the necessity of a global marketing strategy, as relying solely on the local catchment would not suffice to support the project's full potential.
We are excited about the future and look forward to unveiling additional developments soon. This marks just the beginning of our ambitious collaborative efforts to transform this space.
This article was originally published in issue 149 of Marina World magazine. Click here to read the online version.
