Specialized Investment Compounds COmpany Plc (SPIC), better known for its Arabbic name AL Tajamouat ir its ticker symbol SPIC, was established in 1994 with a current paid u capital of JOD 23 million. The company has assets of over JOD 70 million, a market capitalization of over JOD 110 million (USD 150 million), and is a publicly listed company on the Amman Stock Exchange.
SPIC operates a wide array of complimentary services within Al Tajamouat Industrial City that are designed to provide tenants with a full service package, including interior architectural and electromechanical customizing works. The company also operates a wealth of commercial outlets within the city. These include a medical clinic, a security department with over 110 security personnel, solid and waste removal and collection services, maintenance and housekeeping services, a labor recruiting and training office, as well as a Business Information Center. Al Tajamouat makes it easy for people to invest in Jordan.
Towards the end of 1999, Al Tajamouat Industrial City was designated a Qualifying Industrial Zone (QIZ) by the US Government. This valuable development opened new doors for international companies to capitalize on the duty free and quota free access tot he United States market. Al Tajamouat INdustrial City is now home to 40 international manufacturers from 12 nationalities, 120 local businesses, and holds close to 40% of the total US Export Related Foreign Direct Investment in Jordan. According to government statistics published by the Jordan Investment Board, Al Tajamouat Industrial City is the largest Qualifying Industrial Zone in Jordan in all aspects encompassing employment, exports, number of factories, and FDI.
Al Tajamouat Catering and Housing Company Plc
Publicly held, Al Tajamouat Catering and Housing Company Plc, ticker symbol JNTH, operates dormitories and catering facilities within AL Tajamouat Industrial City that house and feed both expatriate and local workers and managers who work within the zone. Currently, the company houses over 6,000 workers occupying 95% of its various dormitory buildings. These buildings, which are fully furnished, were designed in compliance with US buyer and international standards specifications. This company is currently in the process of expanding and diversifying to include opening several franchised restaurants in Amman (such as Lina's Cafe) and building dormitories and catering facilities to service the public and private sector developments in Jordan. It has also registered a company in Qatar that will house and feed construction workers in various sites.
Al Tajamouat for Touristic Projects Comapny
Al Tajamouat for Touristic Projects Company, ticker symbol MERM, is publicly held and has a paid up capital of JOD 40 million. The main activity of the company is the development of shopping centers and malls. Its pilot project is the development of Jordan's most up-market shopping and entertainment mall in the upper income area of Amman, Abdoun. The project is currently under construction and is scheduled to open in the beginning of 2009 with an initial cost of approximately JOD 90 million. Construction of Phase I of the project consists of a 150,000-m2 upscale mall focusing heavily on entertainment, with a terrace area overlooking East Amman that will be filled with casual and fine dining, cafes, pubs, and a 9-screen cinema. A family entertainment center will provide an enjoyable place for families to enjoy various rides, games, and surprises. The remainder of the facility will consist of hip and stylish retail, food courts, and a hypermarket.
Al Tajamouat Publi Storage and Logistics Company
SPIC has been active in the development of state-of-the-art services warehousing and storage buildings and is now in the process of expanding and spinning it off into a seperate storage and logistics company (Al Tajamouat Public Storage and Logistics Company) that will expand throughout Jordan and the region to cope with the increase in demand for such services.
Al Tajamouat Industrial City, Egypt
SPIC is also expanding regionally and has been invited by the Industrial Development Authority of the Government of Egypt to develop a land of 2 million m2 into an industrial zone, in order to capitalize on Egypt having recently signed the QIZ agreement with the USA. The project will be developed over a 10-year period leading to an eventual total investment of USD 300 milion. Al Tajamouat Industrial City, Egypt (ATIC) will replicate the model that made it successful on Jordan, which involves the construction of standard ready made industrial buildings in advance of investment. The company will also construct and operate all of its auxiliary services which will include labor and management dormitory housing, food catering facilities, trade shop buildings, a training center, a storage and logistics center, housekeeping services, security services, a labor recruitment office, waste removal services, and a business center amongst others.