His Majesty King Abdullah on Thursday laid the foundation stone for the second phase of the $1billion gated residential community, Royal Village, a major investment by the Bahrain-based Gulf Finance House (GFH), in partnership with Kuwait Finance and Investment Company (KFIC).



The Royal Village will offer more than 1,000 residential units comprising luxury villas and apartments, spread across 468,500 square metres in Marj Al Hammam, bordering the Dead Sea highway, according to GHF.



The development will also feature a commercial retail section catering to the residents of Royal Village, which is a major component of the “Districts,” the name given to the entire second phase of the Royal Metropolis project in the Kingdom.



“The development of the Royal Village comes at a time when the economy of Jordan is booming and is a reinforcement of the confidence in the Kingdom's investment potential. The project will aim to bridge the shortfall in available quality residential facilities in Jordan. Royal Village will offer a high-class gated residential community within a self-contained ambience, supported by all modern facilities and amenities,” GFH CEO Esam Janahi said, commenting on the project.



Meanwhile, at today's ceremony the investors announced plans to build a five-star luxury resort and spa on the shores of the Dead Sea.



The Royal Resort & Spa is an integrated project, which will combine a world-class hotel, a spa and luxury villas.



“Both the Royal Village and Royal Resort & Spa are two salient components of the Royal Metropolis project. The Royal Resort & Spa will blend modern and Arab architectural motifs in natural surroundings,” a GFH statement quoted Janahi as saying.

The Jordan Times