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AMAALA Unveils Denniston as Master Planner of the IslandMarch 11, 2020

AMAALA, the ultra-luxury destination located along Saudi Arabia’s northwestern coastline, has announced the appointment of leading architectural firm Denniston as the Master Planners for The Island.

Chief Executive Officer of AMAALA, Nicholas Naples, said: “AMAALA carves a unique positioning within the global hospitality portfolio, catering to select travellers looking for innovative experiential escapes. Our ambition is to create personalised"...

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Rasmala Acquires Research and Development Facility in the United States for USD 61 million March 9, 2020

Rasmala Investment Bank Limited (‘Rasmala’) a leading alternative investment manager, today announced the acquisition of a state-of-the-art research and development facility in Philadelphia, United States for USD 61 million. The asset was acquired by the Rasmala North American Real Estate Income Fund.

Located in the heart of the Philadelphia Navy Yard complex, one of the premier business parks in the Northeastern United States, the property"...

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Start-up seeks to ‘democratise space’ in traditional real estate marketMarch 3, 2020

AMMAN — The inconvenience of meeting clients at home, the lack of client interaction and awareness and the demand for the “shopping experience” are the main hurdles designers face, according to a Jordanian architect.

With the “aim of representing her nomadic culture and transmitting the nomadic freedom” to the business world, Dana Al Fayez launched her start-up NOMAD last year, she said.


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AMAALA appoints Foster + Partners as Architectural AdvisorsMarch 1, 2020

AMAALA, the ultra-luxury destination located along Saudi Arabia’s northwestern coastline, has announced the appointment of British award-winning architectural design and engineering firm, Foster + Partners. The firm will act as Architectural Advisors of the development.

Rooted in the philosophies of art, wellness, and the purity of the Red Sea, AMAALA is set in the Prince Mohammed bin Salman Nature Reserve across three unique communities:"...

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Resort project in Aqaba moves ahead after years of construction delaysFebruary 24, 2020

AMMAN — In order to make up for eight years of construction delays, the Red Sea Resort investment project is progressing according to a fixed plan that divides work into five phases.

“The significant project delay was due to deficiencies and irregularities in procedures, which were solved after introducing a new board of directors at the end of 2015,” said Talal Yaish, CEO of Arab Phoenix Holdings (APH), which owns the resort.


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Trade Ministry study shows decline in prices of reduced-tax commoditiesFebruary 19, 2020

AMMAN — A study conducted by the Ministry of Industry, Trade and Supply has shown a decrease in the prices of a number of food items and other basic commodities included in the Cabinet’s recent decision to reduce sales tax on certain products.

The ministry’s study follows a similar one conducted by the Jordan National Society for Consumer Protection, which revealed that several weeks after the Cabinet’s decision was put into"...

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Lafarge Jordan posts JD47.5 million of net losses February 17, 2020

Amman, Feb. 16 (Petra)- The net loss of the Jordan Lafarge Cement Factories Company last year hit JD47.5 million, compared to JD27.8 million during 2018, according to the company's disclosure on the Amman Stock Exchange (ASE) website.

The company's loss after tax increased last year to JD49.7 million, compared to JD34.5 million in 2018, while its operating losses decreased to JD10.6 million, compared to JD20.8 million in 2018, said its disclosure data.


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