Callison Heading Up $10B Jordan Project

AQABA, JORDAN-Design firm Callison is heading up the master planning for Marsa Zayed, a 60-million-square-foot mixed-use project here that is forecast to cost $10 billion. Al Maabar Jordan Investments is the developer of the asset, which is set to begin construction by the first half of next year.

Marsa Zayed will get underway in phases, as the Jordanian government hands over land for the project. The first two hand offs are scheduled to take place this year, and the third and final transfer is set for 2013. Al Maabar originally acquired the land from the government last year for $500 million.

About 32 million square feet of the project will be made up of residential and office towers, as well as retail and entertainment space. Hotels and a cruise-ship terminal, to undergo construction as part of the project, will make up the remainder of the space.