Real Estate

imported 2024-03-17 17:43:07

Outlook for Saudi capital markets and mortgage market

The Islamic finance industry has evolved in the direction of complying with the conventional system. Islamic finance industry has to rethink its philosophy. The latest trend in the industry is the emergence of innovations from Islamic institutions that are derived from the principals of the Islamic finance philosophy, not from the motive of providing solutions or mimicking the conventional finance systems.

Ayla: A Unique Mixed Use Real Estate Project on the Red Sea

“Ayla is very unique; it is basically realising the vision of Aqaba in a way. The vision of Aqaba was to have 50% of its activities in tourism and in other related developments. So Ayla was given land on the border which was undeveloped to turn into a mixed use development and attraction,” says Sahl Dudin, Managing Director of Ayla Oasis Development Company, which is currently undertaking the leading real estate development on the Red Sea.

“Tourism is Jordan’s oil” — Sahl Dudin

“Tourism is basically the major sources of income to the Kingdom and the employer of tens of thousands of people. Jordan boasts many touristic sites like Petra, Jerash, Wadi Rum, Dead Sea and Aqaba. We believe that tourism is Jordan’s future in terms of revenue and prosperity,” explains Sahl Dudin, Managing Director of Ayla Oasis Development Company, which is currently undertaking the leading real estate development on the Red Sea.

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