Edgo to Invest in Al-Abdali project

Edgo has signed an agreement with Abdali Development & Investment Company to develop a section of the billion dollar Al-Abdali mixed-use real estate project in Amman.

Expressions of interest for the Group’s new headquarters were issued by Edgo Ventures, the Group’s corporate finance and investment management arm, to several local and regional architects inviting them to provide conceptual designs for the project. Arabtech Jardaneh and Maisam Architects were awarded the contract as Design Consultants and Dubai-based SE&M will be the Design & Project Managers. The scope of works involves construction of a state of the art eight-storey office tower covering 22,000 sq m at an estimated cost of $24 million. Work is expected to be completed by the middle of 2009.