MAG Group to Lead Marsa Zayed Beachfront Development

Dubai-based MAG Group Holding, a globally recognized real estate developer, has been chosen as the primary developer for the initial phase of Marsa Zayed. This ambitious waterfront community is set to redefine Aqaba’s Red Sea coastline in Jordan, bringing a mix of tourism, residential, and commercial developments to the region.

Transforming Aqaba’s Coastline

Marsa Zayed is a visionary undertaking aimed at converting 320 hectares (3.2 million m²) of prime beachfront into a thriving economic and tourism hub. Positioned as a key southern gateway to Jordan’s renowned attractions—including the UNESCO-listed Petra and the stunning Wadi Rum desert—this development is set to bolster the nation’s tourism industry and economic growth.

Strategic Partnership with AD Ports Group

MAG Group Holding’s role as the lead developer was confirmed by AD Ports Group (ADX: ADPORTS), an Abu Dhabi-based trade, transport, and logistics powerhouse. AD Ports Group, which owns the land for Marsa Zayed, has been instrumental in Aqaba’s maritime infrastructure, including the development and operation of the Aqaba Cruise Terminal, launched in January 2023 under an agreement with the Jordanian state-run Aqaba Development Corporation (ADC).

A UAE-Jordan Collaboration for Tourism Growth

Backed by the governments of both the UAE and Jordan, Marsa Zayed is a testament to the strengthening ties between the two nations. The project is designed to position Aqaba as a premier destination for international travelers and a gateway to the Red Sea, driving regional tourism and economic expansion.

Phase One: A Modern Coastal Destination

MAG Group Holding is responsible for attracting investors and overseeing the execution of Marsa Zayed’s first phase. This phase, spanning 1.2 kilometers of Red Sea shoreline, will feature Zayed Riviera, a dynamic mixed-use development. Highlights include:

> Four residential towers

> A marina with approximately 1,260 residences and 117 retail spaces

> A luxury hotel and serviced apartments with an exclusive beach club

> A traditional Old Souq marketplace with 50 retail stores

> A restored Aqaba Minerat, preserving local heritage

> A state-of-the-art yacht club and marina

> A dedicated visitor center

Global Promotion and Investment Drive

During an official ceremony in Aqaba, MAG Group and AD Ports Group launched an international campaign to attract investors and visitors to Marsa Zayed. Organizers anticipate that this project will emerge as one of the Middle East’s most captivating tourist destinations. Furthering its commitment to Aqaba’s economic development, AD Ports Group solidified its expansion strategy in January 2024 by signing a shareholders’ agreement between its digital arm, Maqta Technologies, and ADC. This partnership will revolutionize port operations in Aqaba by deploying a cutting-edge Port Community System (PCS), marking the first export of Abu Dhabi’s digital port solutions.

Expanding Influence in the Red Sea Region

AD Ports Group has actively expanded its presence along the Red Sea, securing long-term agreements to develop and manage cruise terminals in Safaga, Hurghada, Al Sokhna, and Sharm El-Sheikh. Additionally, the company is building a multi-purpose port in Safaga and a Ro-Ro terminal in Al Sokhna, reinforcing its role as a leading maritime operator in the region.

Moafaq Ahmed Al Gaddah, Chairman and Founder of MAG Group Holding, said: “We are excited to be part of what I consider to be one of the most exciting real estate development projects in the Red Sea region, one that not only will transform the economic potential of Jordan’s maritime resources, but lead to a vibrant coastal ecosystem that stimulates economic growth across this part of the Middle East. We deliver our award-winning services to local and international customers in such a way that they most importantly benefit our customers and the communities in which we operate.”

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said: “Today’s ceremony is a significant step in our strategic plan to support the Government of Jordan in developing Aqaba into a premier world-class destination for tourism and economic development. This first phase of Marsa Zayed will enable AD Ports Group to deliver on our wise leadership’s vision to add economic value to this lively region. We are grateful for the support and assistance of our valued partner, ADC, and to our valued real estate development partner MAG Holding, for this collaborative effort to advance the growth of Aqaba.’’

MAG Group’s Global Real Estate Footprint

Since its inception in 1978, MAG Group Holding has delivered some of Dubai’s most iconic high-rise developments, including Emirates Financial Towers. The company has also extended its influence internationally with The Gate, a mixed-use complex in Dallas, Texas. Its diverse portfolio spans real estate, engineering, commercial trading, logistics, and hospitality.

Strengthening UAE-Jordan Economic Ties

Jordan remains a key strategic partner of the UAE, with bilateral trade reaching USD 4.1 billion (AED 15.4 billion) in 2023, as reported by the UAE Ministry of Economy. AD Ports Group, 75.4% owned by UAE state investment firm ADQ, continues to be a dominant force in cargo and cruise terminal operations across the Red Sea, reinforcing its influence in global trade and logistics.