A PART OF THE COMMUNITY

Jordan 2019 | REAL ESTATE & CONSTRUCTION | INTERVIEW

Abdali Investment & Development continually seeks the best way to add value and bring in developers and investors.

Bater M.S. Kardan
BIOGRAPHY
The Group CEO of Abdali Investment & Development PSC, Bater M.S. Kardan graduated from the University of Tampa with a double major in finance and management and a minor in marketing. He was with Arthur Anderson for six years, subsequently moving to be part of the establishment team of an insurance company. He has had stints with Zara Holding Co, Dubai International Financial Centre, and Dubai Properties. He subsequently moved to Qatar to be part of the establishment committee of Qatar First Investment Bank.

What is the status of your Abdali project?

Our current progress in Phase I, which is almost complete, demonstrates both our commitment and that of our developers to offer a world-class development. The next phase, which is currently in the final planning stages, includes market research at both the regional and global levels. We will also be revising and adapting our strategy accordingly to the results of that research. Viewed in its entirety, the project presents undeniable synergies that have been harmonized with our stakeholders in mind in an effort to create an integrated Abdali community. As the master developer, Abdali never goes to sleep. In the mornings, the offices are operational, serving corporations and the business sector; our residential sector and our retail outlets and F&B options operate throughout the day serving individuals and everyday visitors; while the entertainment arm kicks into gear in the early evening all the way through the night. All these segments utilize the same infrastructure, which is how we capitalize on integration and synergies, best capturing the philosophy of a mixed-use development. The anchor of the development is The Boulevard, which delivers office space, retail options, and F&B outlets for the entire area. For Abdali, it is important to integrate ourselves into the community, so we focus on corporate social responsibility events that cater to everyone. On an average day, The Boulevard and its surrounding areas have between 23,000 and 28,000 visitors, and we see a major increase in those numbers during major events such as our Christmas celebrations, where the total cumulative number of visitors reached more than 250,000.

How do you attract other developers and partnerships?

Looking forward to Phase II, we hope to bring new investments and partnerships through a combination of factors. We will organize roadshows and talk to all those who demonstrate a genuine interest in the development on both regional and international levels. We are reaching out to potential developers, creating relationships with them and helping them find areas in which they can invest. We are opening channels with foreign companies who want a base in Jordan and decide to lease a space in Abdali, with the mantra that if they succeed, they will be real economic drivers. By providing them with added value, creating dialogue with them and providing them with the tools that will allow them to remain active, we can move forward with strength and success. Looking forward to 2019 and beyond, we are positive that our role as a catalyst will attract further investment both to the area as well as to the country. Both local and foreign companies come to us because they see the value that we present.

What environmentally friendly features does Abdali have?

We not only implement environmentally friendly measures because of their impact on the country, but also because of their financial effects, allowing us and our residents to save significant amounts of money in terms of cooling, heating, and lighting. One of the most unique features at Abdali is its centralized district heating and cooling provided by the Jordan District Energy Company, something that is unique to the entire region. The buildings use water collection systems as well as gray water, as Jordan is a water-scarce country, allowing us to play a major role in conserving this fragile and limited resource. Insulation is also sustainable, which means that there is less of an environmental impact as well as much lower future maintenance requirements. Fiber-optic cables are used throughout the development's communication network, and the gas network is uniform throughout the entire development. We have also tax incentives for our investors, both local and international. Furthermore, to help tackle the traffic issues facing Amman, we have created an area where people can live and work in the same place. Abdali has situated itself as the ideal development at a time when the model is changing.