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Crystal Lagoons eyes projects in Jordan’s Aqaba, Dead Sea

Crystal Lagoons is in talks with several Jordanian real estate developers with a view to installing artificial lagoons in the country’s Aqaba and Dead Sea areas

Crystal Lagoons has revealed that it is in talks with several Jordanian real estate developers with a view to installing artificial lagoons in the country’s Aqaba and Dead Sea areas.

The company intends to capitalise on Jordan’s burgeoning tourism market, after securing a multimillion-dollar project at the Lagoon Hotel and Resort in the country’s Al-Rama area.

In 2016, Jordan welcomed 3.86 million individual overnight visitors, a 2.6% rise compared to the previous year. Group overnight visitors witnessed a year-on-year increase of 20% during the same period, reaching approximately 314,000 in total.

Outside of the tourism sector, Crystal Lagoons’ regional director, Carlos Salas, said that artificial lagoons could be used to increase competitiveness within the Middle East’s residential market.

“The current oversupply in the residential market has put pressure on developers to be more competitive to sell their properties, and this includes amenities offered,” he explained.

“Crystal Lagoons adds that wow factor with its ability to bring the idyllic lifestyle of the beach anywhere in the world. In our experience, developers are able to charge a premium on properties overlooking our projects and, thus, can attain strong [returns on investment],” Salas added.

Elsewhere in the region, Crystal Lagoons also revealed that it is in talks to build additional lagoons in other regional markets, including Saudi Arabia, Oman, and the UAE.

Previously, the company has signed 13 developments in Egypt and two in the Emirates.

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Latest Issue

Construction Week - Issue 746
Jul 20, 2019