Amaar Group was established in 2009 as the real estate investment arm of the Palestine Investment Fund (PIF) with an authorized capital of 140 million dollars. We continuously endeavors to enhance the real estate sector in Palestine by implementing real estate projects that focus on developing housing and commercial real estate and land development.
Amaar Group has proven accomplishments in the real estate sector that have become the milestones in several governorates in the country. Such accomplishments include the development and implementation of the Al-Reehan Neighborhood model. It has set the standards of urban expansion and architectural development, building more than 250 residential units, and establishing essential infrastructure for residence, education, healthcare and tourism. At the completion Al-Reehan’s project, the neighborhood will include more than 1,500 residential units. Other projects include Al-Jinan Neighborhood in Jenin, the Moon City in Jericho and major commercial centers like the Ersal Center. All of these projects include architectural innovation with the latest technology upgraded to a whole new level.
Amaar Group will implement the strategy endorsed by our Board of Directors to prepare the real estate industry for many years ahead. Currently, it focuses on the development of land parcels to prepare them for construction at affordable prices, and in different areas and provinces of the country. Amaar aims to meet the growing need for housing, and encourage the architectural expansion and advancement in and near major urban centers. In addition, it seeks to create additional, new residential areas and units to reinforce Palestinian presence over the land, and provide Palestinian families with their dream homes that represent their future investments.
In the coming years, Amaar’s strategy will adhere to the development of the horizontal real estate sector, through purchasing large tracts of land areas and building the necessary infrastructure to sell to sub developers. These implemented initiatives will stimulate the developers and investors to elevate the investment cycle in Palestine. It is also important to address and focus on developing the land and providing it with all required facilities, urban and civil planning, screening and registration, in order to compensate the shortage of lands possible for real estate developments.
Among Amaar’s main priorities is to contribute to the investment in Jerusalem, through the constant search of partnership opportunities that encourage and create Palestinian investments, which could help reinforce the Palestinian identity and cultural heritage there. In addition, Amaar Group strives to maximize real estate projects in Area “C”. One of the main objectives of Amaar Group is to reach out to Palestinians abroad, in order to strengthen their connection with their homeland through investments and contributions to rebuild their State. The main role of Amaar Group relies in the active contribution and adherence to develop the physical and social infrastructure needed for continuous developments and a fast-growing Palestinian economy.