Taameer Jordan Holdings recently signed an MoU with the Orphan Fund Development Foundation of Jordan. The MOU will enable Taameer Jordan Holdings to develop housing projects targeting low-mid income segments, capitalizing on orphans fund, and benefiting orphans in the future. The exact means of investments and the projects involved will be agreed upon later in an official MoU between the two parties.
The MOU was signed by Board Chairman and CEO of Taameer Jordan Holdings, Mr. Khalid Dahleh and Jordan’s Chief Judge and Board Chairman of the Orphan Fund Development Foundation Dr. Ahmad Hilayel, with the presence of the General Manager of Orphan Fund Development foundation of Jordan, Dr. Faisal Al-Hiari, and Dr. Khaled Al-Wazani, General Manager of Taameer Jordan Holdings.
This MoU aims to create collaborations between the two partners on projects that will further social and economic development of Jordan.
Commenting on the partnership, Dr. Hilayel said, “We decided to invest in real-estate projects that cater to the demands of small and medium sized income earners. Our decision came in compliance with His Majesty King Abdullah II’s vision for further development and we look upon our foundation as a positive contributor to the local economy as our new investment strategy caters to the formation of effective partnerships within both private and public sectors of Jordan.”
From his end, Mr. Dahleh added, “We are proud to be signing this MOU with the Fund Development Foundation as it proves the importance of public and private sector partnerships and we on our part are proud to be playing a pivotal role in corporate Jordan. Taameer Jordan Holdings is an avid advocate of positive economic and social progress in Jordan.”
Mr. Dahleh further added that Taameer Jordan Holdings will continue to develop real-estate projects that cater to different sectors within the community and that adhere to varying socio-economic needs of the communities.
Taameer Jordan Holdings continues to develop real-estate projects that comply with the housing needs of Jordanians. Its aims are to combine affordability with quality service in all its projects. The company views itself as an integral part of the communities it operates within and its projects reflect its commitment to serving as a catalyst for positive change.
It is worth mentioning that Taameer Jordan Holdings is developing several real-estate projects in cooperation with the public sector including the Teachers’ Villages, in collaboration with the Jordan Ministry of Education and Al Jiza residential city, in collaboration with the Housing and Urban Development Corporation (HUDC).
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About the Orphan Fund Development Foundation
The Orphan Fund Development Foundation is an independent organization working to mange the funds of orphans below the age of 18. The Foundation manages the funds of over 61000 orphans As recorded in December 2006; these funds were worth JD 102 million. The Foundation invests these funds in the real-estate sector, the Amman Stock Exchange, the industrial sector and the service sector. The total value of investments made was recorded to be JD 113.7 million.
About TAAMEER Jordan Holdings
Taameer Jordan Holdings is a public shareholding company working in real-estate development sector. Established in 2005 with a capital worth JD 300 million, it is considered the largest real-estate development company operating in Jordan with investments of US$ 2.3 billion. Taameer Jordan Holdings is the 7th out of the 30 largest companies listed in the Jordanian stock exchange. Its board of directors is chaired by Eng. Khalid Dahleh, and its GM is Dr. Khalid al Wazani. As part of its mission to provide a luxurious lifestyle for all segments of the community and expand its operations in the Middle East and North Africa, Taameer Jordan Holdings at present is working on several real-estate projects in the country, with aims to provide its clients with a valuable return on investment. The company operates several investment and real-estate development arms under its umbrella. Through its subsidiaries it strives to contribute to Jordan’s economic and social development. Its projects include Ayla Park Plaza, the Red Sea Resort, Andalucia, Gardens Villas, al Jiza Residential City, Teachers Villages, and al Mushatta industrial city.
