Foursan Group to Develop Building in Abdali District

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25-01-2007

Foursan Group announced today that it has appointed Arabtech Jardaneh (“AJ”) and Maisam as architects and engineers for its flagship real estate development project in the Abdali District in Amman, Jordan, as well as SE&M of Dubai to oversee construction management for the project.

Construction of Foursan’s 19,000 m2 seven-storey building is expected to be completed in 2008. The building will offer high-end corporate and retail tenants a deluxe and state-of-the-art work space in the heart of the Abdali district.

The Abdali District is a pioneering urban project which aims to transform Amman’s downtown into a thriving high-quality urban destination with an infrastructure that meets international standards. In accommodating the growing international and regional needs of the business community, all of Abdali’s future tenants will have access to the latest telecommunications and media technologies and, for the first time in Jordan, an efficient and environmentally friendly district energy system. The initial phase of the Abdali District will span an area of 350,000 m2 with an expected built-up area of 1,077,000 m2 and an estimated cost of over US $1.5 billion.

About Foursan: Foursan Group is a private equity specialist with a primary focus on the Middle East region. Foursan has recently launched Foursan Capital Partners to invest throughout the Middle East, with a specific focus on markets that are “emerging” in the region. Foursan also manages the Jordan Fund, which it launched along with Deutsche Bank and the Government of Jordan.