45% completion rate in Porto Dead Sea and project completion by the end of 2033

He indicated that the first phase of the project, built on an area of 9 dunums, has been fully completed and includes 151 hotel apartments, in addition to building (A), which includes a reception area, a banquet hall, management offices, a tourist restaurant, and retail shops, alongside 11 additional hotel apartments, two swimming pools, and an equipped beach.

He added that the second phase, extending over an area of 5 dunums, is scheduled to be completed by the end of 2027, and includes 117 hotel apartments, 12 cabanas, and two hotel buildings (B and C) comprising approximately 69 hotel rooms, in addition to a restaurant and a café.

He pointed out that the third phase, built on an area of 6 dunums, is scheduled to be completed by the end of 2028, and includes 147 hotel apartments, 12 cabanas, and two hotel buildings (D and E) comprising approximately 58 hotel rooms, alongside 20 retail shops.

Al-Ajlouni emphasized that the Group continues to monitor the investing company's commitments and coordinate with relevant authorities to complete the required procedures, including procedures related to transferring ownership to buyers, in accordance with relevant legislation and agreements, and in a manner that preserves the rights of the concerned parties.

He said that completing the project according to the approved timeframes will contribute to diversifying the tourism product in the Dead Sea Development Zone, enhancing its attractiveness for tourism and real estate investments, revitalizing sectors related to tourism, hospitality, and services, as well as providing direct and indirect job opportunities and supporting economic and tourism development in the region.

For his part, the Chairman of the Board of Directors of "Porto Dead Sea" and CEO of the Arab Developers Holding Group, Dr. Ayman bin Mukhtar Khalifa, affirmed the continuation of the project's development works according to specified time plans, which enhances the position of the Dead Sea Development Zone as a tourism and investment destination and provides various facilities for accommodation, recreation, and relaxation.

Khalifa explained that previous buyers of units completed within the executed phase of the project will receive their registration deeds within weeks to complete the ownership registration procedures in accordance with approved principles.

He indicated that the project is distributed over two main plots; the first is a beach plot with an area of approximately 19.5 dunums, which includes the construction of 5 towers comprising hotel apartments, tourist, commercial, and service facilities, and the second is a mountain plot with an area of approximately 786 dunums, which includes development plans to establish villas, hotel apartments, a 200-room four-star hotel, alongside recreational and commercial facilities and green spaces.

He pointed out that development works on the beach plot are being implemented in 3 phases, and the overall completion rate for the project elements there has reached about 45%, with expectations of completion by the end of 2028, in accordance with the amended agreement annex signed in December 2024, while development works on the mountain plot will begin at the end of 2028 and continue until the end of 2033.

He added that the development plans for the mountain plot include luxury touristic villas of various sizes with private pools, residential apartments, a hotel, restaurants and cafés, a health and sports club, an aquapark, joint playgrounds and pools, and green spaces, to provide an integrated experience for accommodation, relaxation, and family entertainment, and to enhance the diversity of the tourism product in the Dead Sea and its attractiveness to visitors and investors.