Home Industry Construction MAG Group to lead first phase of Marsa Zayed beachfront development in Jordan Marsa Zayed is a large-scale project designed to convert a 320-hectare (3.2 million square metres) stretch of Red Sea coastline into a major tourism and business hub by Gulf Business February 3, 2025 Image: Supplied Dubai’s MAG Group Holding has been selected as the lead developer for the first phase of Marsa Zayed, a beachfront resort and residential community set on the Red Sea in Aqaba, Jordan. Marsa Zayed is a large-scale project designed to convert a 320-hectare (3.2 million square metres) stretch of Red Sea coastline into a major tourism and business hub. The development is intended to serve as a southern gateway to Jordan’s top attractions, including the UNESCO World Heritage Site Petra and the Wadi Rum Protected Area. MAG Group was chosen as the lead developer for Marsa Zayed by AD Ports Group, which owns the land for the project. AD Ports Group, which developed and operates the Aqaba Cruise Terminal that opened in January 2023, has partnered with the Jordanian state-run Aqaba Development Corporation (ADC) in a bid to establish Aqaba as a key regional tourism and transport hub. The Marsa Zayed project is strongly backed by both the UAE and Jordanian governments, reflecting a commitment to enhancing Aqaba’s position as a leading tourist destination on the Red Sea coast. The project is expected to significantly boost the city’s tourism and business sectors, attracting international visitors and investors. Phase 1 development of Marsa Zayed MAG Group will oversee the development of the first phase of Marsa Zayed, which spans 1.2 kilometres of beachfront along the Red Sea. This phase will feature the Zayed Riviera, which will include four residential towers, a marina with 1,260 residential units and 117 retail units, a hotel and hotel apartments with a beach club, an Old Souq marketplace with 50 retail shops, and the restoration of Aqaba’s iconic Minaret. Additionally, the first phase will feature a yacht club, marina, and a visitors’ centre. At the project initiation ceremony held in Aqaba, AD Ports Group and MAG Group launched an international campaign to promote the first phase of Marsa Zayed, positioning it as one of the Middle East’s most exciting new tourist destinations. Strategic initiatives for Aqaba As part of its broader strategy to enhance maritime and tourism infrastructure in Aqaba, AD Ports Group signed a shareholders’ agreement in January 2024 between its digital arm, Maqta Technologies, and the Aqaba Development Corporation (ADC). This agreement focuses on their joint venture, Maqta Ayla, which aims to modernise Aqaba’s port operations by implementing a port community system (PCS) leveraging Maqta Gateway’s expertise. This initiative marks the first-ever export of Abu Dhabi’s port digitalisation solution. AD Ports Group, a major investor in the Red Sea region, has also secured long-term concessions to develop and operate cruise terminals at several Red Sea ports, including Safaga, Hurghada, Al Sokhna, and Sharm El-Sheikh. The group is also building and operating a multipurpose port in Safaga and a Ro-Ro terminal in Al Sokhna. Moafaq Ahmed Al Gaddah, chairman and founder of MAG Group Holding, expressed excitement about the project, saying: “We are excited to be part of what I consider to be one of the most exciting real estate development projects in the Red Sea region, one that will transform the economic potential of Jordan’s maritime resources and lead to a vibrant coastal ecosystem that stimulates economic growth across this part of the Middle East.” Founded in 1978, MAG Group Holding has developed some of Dubai’s most iconic high-rise buildings, including the Emirates Financial Towers. The group has also expanded internationally, with notable projects like The Gate, a mixed-use residential, commercial, office, and retail complex in Dallas, Texas. MAG Group operates across various sectors, including real estate, contracting, engineering, industrial and commercial trading, freight services, and hospitality. Captain Mohamed Juma Al Shamisi, MD and group CEO of AD Ports Group, added: “Today’s ceremony is a significant step in our strategic plan to support the Government of Jordan in developing Aqaba into a premier world-class destination for tourism and economic development. “This first phase of Marsa Zayed will enable AD Ports Group to deliver on our wise leadership’s vision to add economic value to this lively region. We are grateful for the support and assistance of our valued partner, ADC, and to our valued real estate development partner MAG Holding, for this collaborative effort to advance the growth of Aqaba.” Jordan and the UAE share close economic ties, with trade volume between the two countries reaching $4.1bn (Dhs15.4bn) in 2023, according to the UAE Ministry of Economy. 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