Jordan to emerge as regional leader in ‘green building’ design, construction

Jordan is poised to emerge as one of the region’s leaders in ‘green building’ design and construction, with the Ministry of Public Works and Housing in Amman strengthening its initiatives to implement compliance to environment-friendly building codes among all developers in the country.
Two building policies were passed recently, which will mandate developers to adopt environmentally-sound construction processes and encourage the use of renewable energy sources. In support of the nationwide movement towards environmental conservation, Eqarat.com, a leading total solutions provider to the real estate sector, has expressed its aims to exert further efforts to promote ‘green’ projects in the kingdom to regional and global investors.
A significant shift in the developers’ and customers’ views towards ‘green building’ design has been driven by massive media campaigns on environmental protection spearheaded by both governments and private organisations across the region. Energy management and energy efficient technologies will include huge cost savings, increased worker productivity, conscientious use of local resources and sustainable development in all aspects.
“Our expansion into the Jordan market has been driven by the booming prospects within the country, with projections that the total value of land transactions is expected to reach USD 7 bln by the end of this year,” said Ali Al Rahma, CEO, Eqarat.com. “Pushing the case of ‘green building’, whose benefits outweigh slightly higher average initial costs, is a trend that opens up a significant opportunity for developers to offer high-performance structures to their clients.”
During the first four months of 2008, the total value of transactions within the real estate sector in Jordan reached USD 2.76 bln, representing a 6% increase compared to the same period last year. In addition to the outstanding revenues, the booming real estate sector has also enjoyed various initiatives to support environmental compliance, with local developers aggressively fulfilling Leadership in Energy and Environmental Design (LEED) certification requirements. In addition, the 140,500 units to be built by 2009 under the ‘Royal Housing’ – an initiative launched by King Abdullah in February, will also be constructed according to the ‘green building’ code.
“The most significant indication of Jordan’s ‘green’ development is the adoption of ‘green solutions’ by the Al-Mushatta Industrial City, a major industrial hub that aims to become the Middle East’s first ‘Green Industrial City’,” concluded Al Rahma.
Eqarat.com initially forayed into Jordan in early 2007 and established an alliance with Jordan-based developer Taameer Jordan Holdings (TJH). Under the terms of the agreement, the company is exclusively managing the sales and marketing of the USD 260 mln ‘Andalucia’ project – the latest addition to the developer’s investment portfolio, which includes high profile projects such as The Red Sea Resort, Ayla Park, Gardens Villas and Ahl Al Azm residential city.