NREC Jordan – Strategic Real Estate & Industrial Solutions

Author: nrec

  • NREC Participates in Aqaba Economic Forum to Mark Jordan’s Silver Jubilee

    NREC Participates in Aqaba Economic Forum to Mark Jordan’s Silver Jubilee

    The National Real Estate Company (NREC) of Jordan proudly participated in the recent Aqaba Economic Forum, organized by the Aqaba Media Forum. This event was held in celebration of the Silver Jubilee of King Abdullah II’s reign, under the patronage of the Chairman of the Board of Commissioners of the Aqaba Special Economic Zone Authority, Nayef Al-Fayez, represented by Commissioner of Entrepreneurship and Youth, Ramzi Al-Kabariti, and attended by Aqaba Governor Khaled Al-Hajaj.

    A Vision Aligned with National Development

    NREC’s Chief Operating Officer, Mishal Al-Shaiha, highlighted the company’s establishment as part of King Abdullah II’s vision to create a modern, investor-friendly climate in the Aqaba Special Economic Zone (ASEZ). This vision led to the founding of the Jordanian National Real Estate Company, a collaboration between Kuwait’s National Real Estate Company and the Aqaba Development Corporation (Jordan), aimed at creating promising investment projects that contribute to economic and social prosperity in Jordan, especially in Aqaba.

    “The creation of NREC was a strategic step to fulfill His Majesty’s vision of a thriving investment environment in Aqaba,” Al-Shaiha stated. He also emphasized that NREC is positioned to meet current and future investment needs, focusing on storage spaces, developed land, commercial facilities, and multi-purpose real estate projects.

    Strategic Projects in Aqaba

    Operating since July 2006, with a capital of $37 million, NREC has launched two significant real estate projects in the ASEZ, covering a total area of 2 million square meters.

    1. Project One: Located 12 km southeast of Aqaba city center and just 6 km from Aqaba’s container port, near the strategic back road connecting Jordan with Saudi Arabia and Amman. The 1.5 million square meter project is being developed as a Gated Business Park with essential infrastructure and support services for a wide range of investment activities. Key facilities include:
      • High-quality storage warehouses with various sizes to meet diverse storage needs.
      • Serviced land plots with infrastructure for industrial and storage projects.
      • Pre-built industrial facilities designed to support light and medium industries.
      • Designated open storage areas for vehicles, machinery, and temperature-controlled storage facilities.
      • Commercial spaces for offices and retail outlets.
    2. Investment Opportunities in Storage and Industrial Facilities:
      • Storage Units: NREC offers 11 modern, varied storage units within the South Aqaba Investment Complex. These units are ideal for companies seeking a regional storage center for import-export activities, supported by ASEZ’s customs regulations. The total area for this storage activity spans 60,000 square meters.
      • Ready Industrial Buildings: To support light and medium industries, NREC has developed three ready-to-use industrial units with insulated structures and suitable for various industrial applications.
      The project also provides customizable serviced land for investors interested in building private industrial or storage units, with four ready industrial buildings totaling 20,000 square meters currently available.

    Competitive Advantages of NREC

    NREC’s strategic location in the Aqaba Special Economic Zone provides a unique investment climate near Jordan’s neighboring borders, including Iraq, Saudi Arabia, and Egypt. Key benefits of NREC properties include:

    • High-quality land, storage, and industrial facilities.
    • Ease of goods transportation and streamlined logistics, supported by Aqaba’s free trade benefits.
    • Secure environment with exceptional after-sales and leasing services.

    Looking Ahead

    In conclusion, Al-Shaiha presented a short film showcasing the company’s journey, achievements, and future vision. NREC remains committed to developing projects that meet the evolving needs of investors, contributing to Aqaba’s growth as a regional investment hub aligned with Jordan’s vision for economic advancement.

  • Building Future Partnerships: Fahad Al-Jasem’s Visit to NREC

    Building Future Partnerships: Fahad Al-Jasem’s Visit to NREC

    On November 6th, we had the honor of hosting Fahad Al-Jasem, the CEO of Zain Jordan, at the NREC headquarters. Fahad Al-Jasem, who joined Zain Jordan in July 2018, has been instrumental in driving innovation and expanding Zain’s role as a technology leader in Jordan. His visit marks an exciting opportunity to explore how NREC and Zain Jordan can work together to achieve our shared vision for a connected, sustainable future.

    A Visionary Leader in Telecom and Technology

    Since taking the helm at Zain Jordan, Fahad Al-Jasem has focused on transforming the telecommunications landscape in Jordan by investing in digital infrastructure, smart solutions, and community-focused initiatives. His leadership has driven Zain Jordan to introduce advanced technologies, support youth and entrepreneurial initiatives, and contribute to the country’s economic development.

    By welcoming Fahad Al-Jasem to NREC, we were able to discuss how Zain Jordan’s technology expertise can complement NREC’s efforts in real estate development, providing us with the tools to bring smart, connected solutions to our properties and projects.

    Key Discussion Points: Technology and Infrastructure for the Future

    1. Smart Infrastructure and Connectivity

    Our discussion explored how 5G and IoT (Internet of Things) technologies could be integrated into NREC properties, enabling a fully connected environment for tenants, businesses, and visitors. By collaborating with Zain Jordan, NREC envisions bringing smart buildings and sustainable tech-driven spaces to the Jordanian market.

    2. Digital Solutions for Improved User Experience

    Zain Jordan’s experience in creating seamless customer experiences through digital apps and platforms aligns with NREC’s goals of enhancing tenant and customer satisfaction. Together, we can look into developing digital solutions that simplify property management, payment systems, and facility booking, making it easier and more efficient for tenants to access services.

    3. Sustainability Initiatives

    Both NREC and Zain Jordan share a strong commitment to sustainable growth. We discussed the potential for incorporating green technologies, such as energy-efficient lighting, smart HVAC systems, and renewable energy sources into NREC’s upcoming projects. Zain’s knowledge and experience in sustainable practices can guide NREC as we implement eco-friendly solutions across our developments.

    4. Digital Inclusion and Community Development

    With Zain’s active role in digital inclusion and community empowerment, our partnership could extend to creating spaces that support youth entrepreneurship, training programs, and digital literacy. This would align with both companies’ commitment to Jordan’s social and economic development and position NREC properties as community hubs that inspire innovation and opportunity.

    Future Partnership Goals: A Vision for Growth and Innovation

    The meeting concluded with a shared commitment to pursue projects that align with Jordan’s national development goals and benefit the local communities. Here are a few next steps we envision with Zain Jordan:

    • Developing Smart Spaces: Collaborating on technology-enabled spaces that elevate convenience, security, and sustainability.
    • Joint Digital Initiatives: Creating customer-facing apps and digital platforms that improve user experience within NREC’s properties.
    • Sustainability-Driven Projects: Integrating renewable energy solutions and sustainable practices with support from Zain’s expertise in environmental initiatives.
    • Community Engagement Programs: Supporting local communities through educational programs, youth training, and tech workshops within our properties.

    A Promising Path Forward

    Fahad Al-Jasem’s visit to NREC has opened the door to a partnership built on shared values of innovation, community support, and sustainable growth. As we move forward, we are excited about the potential to bring cutting-edge technology and smart solutions into our projects, transforming NREC properties into future-ready spaces that not only meet but exceed modern expectations.

    This collaboration with Zain Jordan aligns with NREC’s vision of creating connected, thriving communities, and we are thrilled to embark on this journey together. Stay tuned for updates as we work alongside Zain Jordan to bring this vision to life, setting a new standard for excellence in real estate development across Jordan.

  • Strengthening Women’s Participation in the Workforce: Insights from Our Collaboration with USAID’s Makanati Program

    Strengthening Women’s Participation in the Workforce: Insights from Our Collaboration with USAID’s Makanati Program

    Our recent meeting with the team from Makanati, an initiative under USAID focused on empowering women in Jordan’s workforce, sparked an inspiring and strategic conversation on how we can enhance opportunities for women within our company and beyond. Makanati’s mission aligns well with NREC’s values, as both aim to create more inclusive and equitable work environments that attract, retain, and support female employees.

    What is Makanati?

    Makanati, meaning “My Place” in Arabic, is a USAID project working to improve the economic participation of Jordanian women by addressing barriers and providing resources that make workplaces more accessible and welcoming for women. Through Makanati, USAID has been actively supporting initiatives that create safe, flexible, and conducive environments for women in Jordan, where challenges—like limited childcare options, transportation hurdles, and cultural expectations—often make professional participation more complex for women.

    Our collaboration with Makanati opens doors to innovative solutions, best practices, and support networks that empower women and boost workplace diversity.

    Key Insights from Our Discussion with the Makanati Team

    Current Work Progress and Future Goals

    We reviewed current progress toward enhancing female participation and discussed how NREC can leverage Makanati’s insights to strengthen our policies, practices, and workplace culture. Topics like fair pay, flexible hours, and dedicated resources to meet women’s needs were emphasized, each aimed at reducing obstacles women often face in the workforce.

    Employee Salaries and Incentives

    Our discussion addressed salary structures and incentives tailored to attract and retain talented women in various roles. Women’s participation in the workforce is often hindered by pay gaps and a lack of equitable advancement opportunities. By understanding these barriers, we are better equipped to develop compensation structures that reflect fair pay practices and encourage long-term career growth for women.

    Identifying and Meeting Needs for Women’s Workplace Success

    Makanati helped identify specific areas that can make workplaces more conducive for women. Key areas include access to childcare, transport, and flexible schedules—all essential in easing the transition to full-time roles for women, especially those balancing work with family responsibilities. By investing in these supportive resources, NREC can become a more inclusive and desirable workplace for women.

    Creating a Culture of Inclusivity

    One of the most inspiring elements of our discussion centered on fostering a culture that genuinely supports women, not only by offering services but also by championing equality and respect in the workplace. Makanati’s experience has shown that when companies take a holistic approach to inclusivity—providing equal opportunities, ensuring fair treatment, and promoting women into leadership roles—they create a positive, productive, and resilient work environment.

    Moving Forward with Makanati’s Support

    Our partnership with Makanati provides NREC with valuable guidance and actionable insights that support the development of inclusive policies and practices. By implementing these, we aim to reduce the gender gap and set a new standard for what it means to be a women-friendly employer in Jordan. NREC is excited about this partnership and the potential it holds to make our company an industry leader in inclusivity and gender equity.

    With Makanati’s ongoing support, we look forward to making a positive impact on our female employees’ lives, enhancing their work experiences, and ultimately contributing to a more inclusive economy in Jordan.