Agreement Between “Souq Bab Al-Madinah” in Al-Zarqa and McDonald's

November 24,2019

On Sunday 8 Sep 2019, Armoush Tourist Investment Company - McDonald's Jordan - and Moon Land Real Estate Development Company – an affiliate to The Land Real Estate Investment and Development Company – signed an agreement to launch a McDonald's branch within the restaurants area in “Souq Bab Al Madinah” project, which is under construction at the city of Al Zarqa, as a step to serve visitors within a new concept under this distinctive international brand.

Mr. Zaid Ali Armoush, a member of the Board of Directors, stated that this collaboration comes within a project that will constitute a qualitative leap in Al-Zarqa at all levels, especially that this project is built based on the concept of a real commercial mall and covers all the needs of both the visitor and the employer.

Mr. Kamil Nagib Fakhoury, Executive Vice President of The Land Real Estate Investment and Development Company, said that with this agreement, the company has achieved an important milestone in terms of the diversity of its anchor tenants during the first phase. He also stated that those tenants will elevate and the project and act as a strong motivation that is important for all businesses in this market.

Mr. Fakhoury also highlighted that next to this McDonald's branch there will be a Carrefour Hypermarket and it will be one of the largest branches in the Kingdom, in addition to a Galaxy Park for entertainment and games as well as Al-Madina Theatre. The Arab Bank will also open with one of its largest branches inside a closed market in Jordan. Needless to say that all these names are planning their expansion based on real and tangible data.

It is noteworthy to mention that the date of completion of construction of the project is planned towards the end of the summer of 2020, and that the souq will form the link between the city of Al-Zarqa and the history and adjacent areas, which is the new and natural expansion of this modern city.