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Aqaba Development Corporation


 

 

 


Aqaba Development Corporation (ADC)

Aqaba Development Corporation (ADC) was launched in 2004 with the objective of unlocking the potential of the Aqaba Special Economic Zone (ASEZ) by accelerating its economic growth and development. 

Launched by ASEZA and the Government of Jordan, ADC owns Aqaba’s seaport, airport and strategic parcels of land as well as the development and management rights for these assets in addition to key infrastructure and utilities.

ADC’s Mandate

ADC is mandated to develop ASEZ through building new or expanding existing infrastructure and the required superstructure, creating business enablers for ASEZ, and managing or operating its key facilities. This will be achieved through maximizing the attraction of private sector developers and operators. ADC also has the responsibility to implement the ASEZ Master Plan in a manner that ensures integrated development and transforms Aqaba into a leading business and leisure hub on the Red Sea.

Private Sector Approach

ADC is a private shareholding company governed by a board of directors, ADC is currently wholly owned by the Government of Jordan and ASEZA, each with a 50% stake.  ADC is operated as a private sector organization and has secured a world-class multi-national private sector team to operate it, supported by a world-class consortium of multi-disciplinary firms.

Private sector participation in the development and management of ASEZ’s strategic assets will be accelerated by ADC either on a stand-alone basis or through public-private partnerships or other means that optimally leverage ADC and private sector strengths.

ADC’s Objectives

ADC's main objective is to unlock Aqaba's economic potential by mobilizing private investment through the packaging of opportunities and prudently leveraging public resources. To do this, ADC has identified five main objectives to realize its mission

Strategic Assets

Develop and manage ASEZ's strategic assets such as its ports and airports in accordance with sound business principles and practices to optimize private sector participation in their development and management so as to accelerate their performance and ASEZ's economic growth and development.

Business Enabling Infrastructure and Projects

Develop and manage business enabling projects and infrastructure to underpin and optimize private sector participation so as to accelerate ASEZ's economic growth and development.

Economic Development

Undertake transactions that stimulate ASEZ's economy and promote the overall economic growth and development of ASEZ and the Kingdom of Jordan

Sustainable Results and Returns

Realize its business objectives on a viable and sustainable basis that not only realizes the economic and social development of ASEZ and the Kingdom, but also generates adequate returns for ADC's shareholders and investors in the zone.

Private Sector Ownership and Operation

Enable significant private sector management of ADC and maximize private sector participation in all its deals.

 

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