The Saudi Ayla Development Company, a subsidiary of the Astra Group, signed an agreement with the Aqaba Special Economic Zone Authority (ASEZA), for the construction of tourism projects in southern Jordan worth $1.79 billion, among them the Ayala project, which is worth $1.41 million and will require eight years to complete.

The whole project includes the development of 4,300-dunums of land that includes the construction of hotels, tourism housing units, commercial complexes, markets and a golf course.

With the completion of the project, Ayla will provide over 4,000 direct and indirect job opportunities and services for the local community, Ayla’s managing director said.

A second agreement was signed by ASEZA and the Zara Investment Holding Company (ZIHC), a subsidiary of the Astra Group, to transform the southern cost of al-Yamaniya Heights to tourist destination. The project’s total cost is estimated at $388 million.

By the first half of 2007, the Aqaba Special Economic Zone has attracted investments worth more than $8 billion, out of which the tourism sector has accounted for about 50% of the total investment, ZIHC chairman said.

al-Sharq al-Awsat, London, December 17, 2007