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Press Release | 01-07-2024

Ayla continues to invest in the expansion of its offerings at Marina Village, forming international and local partnerships to boost sustainable tourism in Jordan.

Ayla Oasis Development Company is dedicated to creating a sustainable, world-class destination in Aqaba, Jordan. With a focus on innovation, sustainability, and community development, Ayla sets new standards in tourism and real estate development in the region. Ayla continues to…

Ayla Oasis Development Company is dedicated to creating a sustainable, world-class destination in Aqaba, Jordan. With a focus on innovation, sustainability, and community development, Ayla sets new standards in tourism and real estate development in the region.

Ayla continues to invest in the expansion of its Marina Village, forging international and local partnerships to boost sustainable tourism in Jordan. The company is excited to announce significant developments in the Marina Village, reinforcing its commitment to sustainable tourism and economic growth in Aqaba, Jordan’s only coastal city.

The European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC), and Capital Bank of Jordan (CBoJ) are supporting sustainable tourism in Jordan by providing an US$81 million financing package for the development of Ayla Marina Village, which is part of the Ayla Oasis regeneration plan. The multi-currency package includes a US$71 million loan provided equally by the EBRD and IFC, and a JOD 7.1 million loan from CBoJ.

The Marina Village attracts around one million visitors annually, with significant growth expected following these new investments. Currently, Ayla supports over 1,300 jobs, and the expansion is projected to create an additional 300 employment opportunities, fostering local skills development and contributing to the community’s economic growth.

Sahl Dudin, Managing Director of Ayla Oasis Development Company, added, “We are pleased to expand our partnership with international banks, reflecting their confidence in Ayla and Aqaba’s commitment to sustainability and good governance. This significant investment from EBRD, IFC, and CBoJ supports our vision for sustainable tourism and development in Jordan. Our ongoing projects enhance Aqaba’s appeal as a premier tourist destination, promote sustainable development, create jobs, and foster local skills development, underscoring Ayla’s larger commitment to Jordan’s sustainable future.”

Jürgen Rigterink, EBRD First Vice President and Head of Client Services Group, stated, “We are delighted to partner with the IFC and CBoJ in the development of this visionary project. The Ayla Marina Village redevelopment is transforming Aqaba’s waterfront into a sustainable tourism destination, boosting employment opportunities and stimulating the local economy.”

“Driving sustainable growth in Jordan requires attracting more foreign investments and strengthening the private sector’s capacity to create jobs, especially for women and youth, in key industries such as tourism and associated sectors,” says Khawaja Aftab Ahmed, Regional Director for the Middle East, Pakistan and Afghanistan. “This financing will also help improve the resilience of the tourism industry and the overall Jordanian economy at a critical time.”

Tamer Ghazaleh, CEO of Capital Bank of Jordan, said, “We are proud to support the Ayla Marina Village project, which aligns perfectly with our commitment to sustainable development and economic growth in Jordan. This initiative enhances Aqaba’s appeal as a premier tourist destination, creates significant employment opportunities, and fosters skills development in the local community. By collaborating with EBRD and IFC, we are investing in a brighter, greener future for Aqaba and the entire nation.”

Since its founding in 2003, Ayla Oasis has played a pivotal role in enhancing Aqaba’s appeal as a major tourist attraction and international destination. Spanning 4.3 million square meters, Ayla integrates sustainable hospitality, retail, and entertainment components. The development transforms the area into a true oasis with an expanded seafront, sandy beaches, hotels, unique residential complexes, commercial and entertainment facilities, and Jordan’s first world-class golf course.

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