Telecom & IT / Jordan
King Hussein Business Park sets out to expand by 13 times
Once the site of Jordan’s Armed Forces Headquarters, the King Hussein Business Park (KHBP) today evokes an image not of commandos in fatigues, but rather techies in T-shirts. The business park today hosts over 70 start-ups and 50 international companies, including Microsoft, Dell, Oracle, LG Electronics, Ericsson, CISCO, Samsung and much more, with big expansion dreams now coming to life.
Since being established in 2010, the business park has acquired tenants so quickly that its management now plans to expand the park into a small city. “The business park has successfully reached almost 95% occupancy with exceptionally high renewal rates, leading us to greenlight a major expansion project,” says KHBP’s CEO, Soud Soror. “The business park premises today comprises 106,000 square meters of gross building area,” Soror continues, “but when our next phase for development comes to fruition, we will become 13 times that size with a total of 1.4 million square meters, with mixed-use development, additional commercial office space, and residential and retail properties.”
In five years, KHBP has attracted $175 million of investment, creating 3,600 jobs in the process. “The business park has been crucial to Jordan’s plan to become a regional tech center,” says Soror. “Our investor’s stay because they benefit from Jordan’s consistency in security, legislation, political stability and intellectual property,” Soror continues. “Microsoft recently expanded their presence here, opening one of only four similar Microsoft Global Hubs in Europe, the Middle East and Africa,” he says, adding: “This emphasizes the importance of KHBP as a catalyst for ICT investment.”
