About Jordan

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Area:                          89’342 km²
Population:              11’340’000
Language:                 Arabic
GDP (per capita):    12’809 $
Currency:                  Jordanian Dinar (JOD)
Time Zone:               UTC +3
Capital:                     Amman
Density:                    114 / km²

Places of interest:
Dead Sea, Petra, Wadi Rum, Amman, Madaba, Mt. Nebo

Jordan boasts diverse landscapes, from the iconic ancient city of Petra, nestled within rose-red cliffs, to the otherworldly deserts of Wadi Rum, where vast sand dunes meet dramatic rock formations. The Dead Sea, renowned for its high salt concentration, provides a unique experience of effortless floating, while the fertile Jordan Valley showcases lush greenery and historic sites. The country’s blend of historical treasures and natural wonders offers a captivating tapestry of scenery.

 

About Amman

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Area:         1’680 km²
Population: 4’061’150
Density: 2’380 / km²
Highest elevation: 1’100 m
Lowest elevation: 700 m

Places of interest:
King Abdullah I Mosque, Roman Theater, Roman Temple of Hercules

About Black Iris: The Project

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This project entails a mixed-use multi towers development along Abdoun Corridor; a main urban transportation corridors in the city of Amman. The project is developed on on a combination of 3 Parcels of a total land area of around 43,000 sqm; strategically located at a prime location and in close proximity to the diplomatic and commercial hub of Abdoun.

The project aims at creating an innovative, distinctive, vibrant, and sustainable development that prospers through time; creating long term value for the community through focusing on integration between place and form. The buildings and places shall enhance and embrace the particular qualities of the neighborhoods and develop the urban realm; based on the understanding of complex urban issues; mixed use; livable density and health & wellness along with the critical interface between people and infrastructure.

Project Costs

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The total investment costs for the development project, comprising three towers:
Hotel, Business, and Residential Towers
along with a commercial mall, amount to $828.5 million for all components. These costs are allocated across various categories, including land, building and equipment, soft costs, and other expenses. The breakdown reveals that the largest portion of investment, constituting 84.6%, is allocated to building and equipment expenses, ensuring the development of high-quality infrastructure for all components.

Financing

 

The financing structure for the project totals $828.5 million, with equity accounting for 40% of the funding, amounting to $331.4 million. Loans contribute 50% of the financing, totaling $414.3 million, while cash from advance payments comprises 10% of the total, equating to $82.9 million. This balanced financing approach combines equity investment, loans, and cash from advance payments to support the project’s development and ensure its financial stability.

The site

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Land Area
3 Parcels with total area of 43,062 sqm
P1 : 20,755 sqm  |  P2 : 11,396sqm  |  P3 : 10,911 sqm

Total BUA (Above Ground) :  260,000 sqm
Allowable FAR : 6
Max. Coverage Ratio : 85%

Underground Parking & Services : 210,000 sqm

Total BUA : 470,000 sqm

Total Investments Costs USD Million

item USD %
Land Cost 23.4 2.8%
Building & Equip. 700.6 84.6%
Soft Costs 48.0 5.8
Other Costs 56.5 6.8
Total Costs 828.5 100.0%

 

Financing Structure USD Million

item USD %
Equity 331.4 40.0%
Loans 414.3 50.0%
Cash from
Advance
Payments
82.9 10.0%
Total 828.5 100.0%

 

Timeline & Numbers

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Start of construction 2025
Construction period 2025 – 2030
Jobs created approx. 3,000
additional Indirect Jobs created approx. 7,000
Investment volume 828.5 Mio. USD

 

Project Costs

.

The total investment costs for the development project, comprising three towers:
Hotel, Business, and Residential Towers
along with a commercial mall, amount to $828.5 million for all components. These costs are allocated across various categories, including land, building and equipment, soft costs, and other expenses. The breakdown reveals that the largest portion of investment, constituting 84.6%, is allocated to building and equipment expenses, ensuring the development of high-quality infrastructure for all components.

Total Investments Costs USD Million

item USD %
Land Cost 23.4 2.8%
Building & Equip. 700.6 84.6%
Soft Costs 48.0 5.8
Other Costs 56.5 6.8
Total Costs 828.5 100.0%

 

Financing

 

The financing structure for the project totals $828.5 million, with equity accounting for 40% of the funding, amounting to $331.4 million. Loans contribute 50% of the financing, totaling $414.3 million, while cash from advance payments comprises 10% of the total, equating to $82.9 million. This balanced financing approach combines equity investment, loans, and cash from advance payments to support the project’s development and ensure its financial stability.

Financing Structure USD Million

item USD %
Equity 331.4 40.0%
Loans 414.3 50.0%
Cash from
Advance
Payments
82.9 10.0%
Total 828.5 100.0%

 

The site

.

Land Area
3 Parcels with total area of 43,062 sqm
P1 : 20,755 sqm  |  P2 : 11,396sqm  |  P3 : 10,911 sqm

Total BUA (Above Ground) :  260,000 sqm
Allowable FAR : 6
Max. Coverage Ratio : 85%

Underground Parking & Services : 210,000 sqm

Total BUA : 470,000 sqm

Timeline and Numbers

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Start of construction 2025
Construction period 2025 – 2030
Jobs created approx. 3,000
Additional Indirect Jobs created approx. 7,000
Investment volume 828.5 Mio. USD

 

Project Income Statement

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The projected income statement outlines the financial performance of the business over a ten-year period, encompassing revenues, expenses, and net profits.

Revenue streams from various sources such as hotel operations, rental income, and sales are detailed, along with their corresponding operating expenses. In the initial years, hotel revenues are projected to increase steadily, from $42.8 million in Year 1 to $95.7 million in Year 10, while rental revenues are expected to grow from $32.4 million to $67.7 million over the same period. Gross profits from sales show fluctuations, ranging from $6.5 million to $13.0 million, with a significant portion attributed to cost of sales.

Despite varying expenses, including depreciation, general and administrative costs, and interest expenses, the business anticipates an upward trend in net profits, from -$15.4 million in Year 1 to $53.9 million in Year 10

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