Prime Minister of Jordan Visits Madina Mall

The Moon Land has secured a $41 million loan wiht the DFC for the recapitalization of a multi-purpose community center in Zarqa City, Jordan – Souq Bab Al Madina (the “Project”) -- as part of the King Abdullah Bin Aziz City (“KABAC”) development project.  Zarqa is the third largest city and heavily congested with large numbers of Syrian and Palestinian refugee populations in need of quality amenities. KABAC is a special initiative of the Government of Jordan to address the need for affordable housing and provide Jordan with its first comprehensively planned urban area that will reduce population density in Zarqa; increase overall quality of life for its residents; and create jobs. KABAC is expected to provide access to essential services including schools, parks, mosques and hospitals.

The majority of people in Zarqa Governorate  are located in Zarqa City that suffers from a high urban density and a lack of public resources. Additionally, there are a significant number of residents in Zarqa that are of Syrian and Iraqi refugee origin as well as a long-standing Palestinian refugee community, which has been present since 1947. According to the World Bank, the direct cost to Jordan of the Syrian refugee crisis is around US$1.5 billion annually, while the indirect cost is over US$2 billion. 

The refugees’ successful relocation to quality affordable homes represents an important aspect of the Kingdom of Jordan’s stabilization plan and prospects for Middle East peace. In response, the Ministry of Planning has prioritized a decentralization program, with the long-term objective of de-emphasizing the “hub” role of Amman and incentivizing social and economic development elsewhere in the country.

Construction continues on the Madina Mall Project in Zarqa supported by a $41 million loan from the DFC.