Marsa Zayed envisions a marina development with room for 300 yachts and a cruise ship terminal all surrounded by a mixture of hotel, resort and luxury apartment complexes. The entire project is slated for completion in several years time, when Jordan first signed the development deal with Al Mabaar, a UAE-based real estate firm, in 2008, Jordan news media reported that it would be completed in 2013.
The project is expected to transform the city and bring huge benefits to the country. Throughout the Gulf region, the tourism and yachting sectors have been growing significantly, Dubai has led the region in showing how best to tap the market with the development of their own huge marina complex, the Dubai Marina, which has room for some 370 yachts and is home to hundreds of thousands of people living in high-rise residential units.
It was reported in May 2010 that the UAE’s population had, since 2005, shot up from 6 million to over 8 million people, this influx of expatriates was due in large part to such developments as the Dubai Marina and the more iconic construction of the Palm Islands. Jordan, although not accompanied by the same hype, has been developing its own tourism market. The little Red Sea port of Aqaba has a booming economy, driven by new development of infrastructure for the tourism sector