Mawared Company Profile

Background

Mawared, officially known as the National Resources Investment and Development Corporation, was established in 2000 under Law No. (37) to develop treasury lands designated for the Jordanian Armed Forces (JAF). Operating as a financially and administratively independent state-owned corporation, Mawared is directly linked to the Prime Minister and follows the civil service bureau. It stands as the largest real estate developer in Jordan, spearheading urban regeneration and inner-city development projects. The corporation is recognized for its successful model of private-public partnerships and its role in transforming military sites into vibrant investment projects. By contributing land as equity in strategic partnerships, Mawared creates investment opportunities for the private sector, generates employment for Jordanian citizens, and revitalizes the construction and services sectors. Its focus on renewing urban environments and creating vibrant urban spaces has positioned Mawared as a regional leader in urban regeneration and inner-city development.

Key Strategic Focus

Mawared's strategic focus encompasses several core objectives:

Urban Regeneration and Development: Leading initiatives to revitalize urban areas, particularly through the transformation of military sites into mixed-use developments.

Private-Public Partnerships: Engaging in collaborations that leverage both public assets and private sector expertise to drive development projects.

Economic and Cultural Investment: Investing in projects that offer economic benefits and contribute to the cultural landscape, ensuring sustainable returns to the treasury for the benefit of the JAF.

Job Creation and Sector Revitalization: Fostering employment opportunities for Jordanian citizens and invigorating the construction and services sectors through active project development.

Urban Space Enhancement: Renewing urban environments to create vibrant and sustainable urban spaces that improve the quality of life for residents.

Financials and Funding

As a state-owned corporation, Mawared's funding primarily originates from government allocations and revenues generated through its development projects. Specific details regarding total funds raised, recent funding rounds, and notable investors are not publicly disclosed. The capital is utilized to finance urban regeneration projects, infrastructure development, and to support the economic and cultural initiatives that align with the corporation's mission.

Pipeline Development

Mawared's notable development projects include:

New Abdali Downtown Project: Considered the largest integrated development project in the heart of Amman, covering 384,000 square meters. This project exemplifies Mawared's commitment to urban regeneration and development.

Transformation of Military Sites: Ongoing efforts to convert military sites into mixed-use developments, contributing to urban renewal and economic growth.

Specific timelines for anticipated milestones in these projects are not publicly available.

Technological Platform and Innovation

Mawared employs several technological platforms and methodologies to enhance its development processes:

Urban Planning and Design Technologies: Utilizing advanced software and modeling tools to design and plan urban regeneration projects effectively.

Project Management Systems: Implementing comprehensive project management platforms to oversee development stages, ensuring efficiency and adherence to timelines.

Sustainability Practices: Incorporating sustainable building materials and energy-efficient designs to promote environmental responsibility in urban development.

Leadership Team

Mawared's leadership comprises experienced professionals dedicated to the corporation's mission:

Dr. Khaled Megdadi: Serving as the Chairman, Dr. Megdadi brings extensive experience in urban development and strategic planning.

Zaid AlHyari: As the CEO, AlHyari oversees the corporation's operations, focusing on project execution and stakeholder engagement.

Sami Halaseh: Holding the position of Chief Financial Officer, Halaseh manages financial strategies and ensures fiscal responsibility within the corporation.

Competitive Landscape and Market Dynamics

The urban development sector in Jordan is characterized by a growing demand for revitalized urban spaces and sustainable development projects. The government's focus on economic growth and infrastructure development presents opportunities for corporations like Mawared to lead in urban regeneration initiatives.

Key competitors in the Jordanian urban development sector include:

Abdali Investment and Development PSC: A prominent real estate developer known for the Abdali Project, a mixed-use development in Amman.

Eagle Hills Jordan: A subsidiary of Eagle Hills, focusing on large-scale mixed-use developments in Jordan.

Jordan Dubai Capital: Engaged in various real estate and development projects within the country.

These competitors focus on large-scale mixed-use developments, urban regeneration, and infrastructure projects, contributing to the competitive landscape in which Mawared operates.

Strategic Collaborations and Partnerships

Mawared has engaged in several strategic collaborations to enhance its development capabilities:

Public Sector Partnerships: Collaborating with government entities to access and develop treasury lands designated for urban regeneration.

Private Sector Partnerships: Forming joint ventures with private developers to leverage expertise and resources in large-scale projects.

Operational Insights and Strategic Considerations

Market Position: As the largest real estate developer in Jordan, Mawared holds a significant position in the market, enabling it to influence urban development trends.

Competitive Advantages: Mawared's model of transforming military sites into mixed-use developments provides a unique value proposition, differentiating it from competitors.

Sustainability Focus: Emphasizing sustainable development practices aligns with global trends and enhances the corporation's appeal to environmentally conscious investors and residents.

Strategic Opportunities and Future Directions

Mawared's strategic roadmap includes:

Expansion of Development Projects: Identifying and developing additional sites for urban regeneration to meet the growing demand for modern urban spaces.

Diversification of Services: Exploring opportunities in related sectors such as hospitality, retail, and mixed-use developments to diversify revenue streams.

Regional Expansion: Leveraging expertise in urban regeneration to explore development opportunities in neighboring countries, positioning Mawared as a regional leader.