KING HUSSEIN BUSINESS PARK
What are the latest updates on the expansion of KHBP to over 3 million sqm of top-quality office space and mixed-use developments?
The expansion is building on the success KHBP has had over the past years in attracting local, regional, and international companies. We have reached 100% occupancy, and there is high demand, both from within and outside, to expand. KHBP, as a business hub and innovation and entrepreneurship ecosystem, is one of a few of its kind in the region. Our expansion was, therefore, a choice as well as a necessity. The master plan includes land use, phasing, and steps to attract different developers to the business park. We also looked at the risks a real estate developer might face and worked to eliminate or minimize those. One risk is the legal framework. Fortunately, development zones like ours are under the well-defined Jordan Investment Commission framework. We also did a marketing study; developers look for anchor tenants, and these take a long time and are costly to attract; however, as an existing business park, with King Hussein Medical City right next door, KHBP already has its anchor tenants in place.
KING HUSSEIN BUSINESS PARK
TABLE OF CONTENTS
Inside Perspective
HM King Abdullah II, ,
Under the leadership of His Majesty King Abdullah II, Jordan has stood strong in the face of regional and global challenges. With a forward-looking strategy, the country refocuses on its competitive advantages, chief among them its geostrategic position and high-value human capital.
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Muhannad Shehadeh, former minister of State for Investment Affairs & former President, Jordan Investment Commission (JIC)
Economic reforms have put Jordan on the radar of international investors, and the government is utilizing the World Bank's global expertise to further improve its investment climate.
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Dr. AbdelMajid A. Al-Rahamneh, Chairman, Jordan Free and Development Zones Group (JFDZ)
By offering streamlined business solutions for investors and business owners, not to mention fiscal and financial incentives and top-notch free zone facilities, the airport free zone at Queen Alia Int'l has something for everyone.
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Major General (Rtd) Mohammad Farghal , Director General, King Abdullah II Design and Development Bureau (KADDB)
Already a leading producer of the country's most sophisticated weaponry, KADDB is pushing ahead into AI, cybersecurity, encryption, unmanned systems, 3D printing, and jamming devices.
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Sanal Kumar , Chairman & Managing Director, Classic Fashion Apparel Industry Ltd. Co.
Working in tandem with the government to establish productive, skill-building factories for underemployed youth across the country, Classic Fashion is driving the country's modernization efforts.
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Voices from the Sector: Real Estate and Construction
Tby talks to Samir S. Kattan, Managing Director of Associated Transtech Contracting (ASTRACO), Basil Marji, Managing Director of Izzat Marji Group (IMG) and Tarek Zuriekat, CEO of Engicon Group on real estate sector.
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