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Publish Date : 22-Jan-2014

Arabtec Holding PJSC has declared that its subsidiary, Arabtec Construction, has been appointed to perform an AED 5.7 billion ($1.55 billion) contract for building of the Red Sea Astrarium (the Astrarium), a themed entertainment resort in Aqaba, Jordan.

The Astrarium is an incorporated entertainment, hospitality, and leisure development. It has been recommended that the Astrarium will offer important boost to the tourism industry in Jordan, as well as important economic benefits for close by communities and businesses.

Red Sea Astrarium LP, the themed entertainment park will be home to 4 important international luxury hotels providing over 2,000 rooms. These comprise a themed boutique hotel, a five star hotel, a family leisure hotel, and a hotel specializing in meetings and conferences. The entertainment park will also comprise retail, dining and entertainment waterfronts overlooking a man-made lagoon and constituting the cultural and social hearts of the Astrarium. The waterfronts will have numerous exclusive entertainment attractions counting a 4D cinema, Adventure Center, Theater, Water park and a signature Star Trek immersive experience, created in teamwork with Paramount Parks & Resorts and CBS Consumer Products.

Other features of the park will comprise the luscious ‘Hijazi’ and ‘Hanging Gardens’; a water feature; and the iconic ‘Summit’ building, which will house eight different entertainment attractions.

Hasan Abdullah Ismaik, Managing Director and CEO of Arabtec Holding, stated: “We are pleased to be involved in this important project which will further boost the Jordanian economy and enhance the country’s attraction as a tourist destination. We are already actively involved in two major projects in Jordan and look forward to expanding our presence there to take advantage of Jordan’s huge potential”.

Ismaik added: "Apart from its high value and significant contribution to our long term investment, which will translate in sustainable returns to our shareholders, this project provides further recognition of Arabtec as a leading international provider of complex mixed-use developments."

Construction work on the project is planned to start in the third quarter of 2014, with the third quarter of 2017 targeted as the soft launch date.

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