King Hussein Business Park Has Signed Two Investment Agreements With Reynolds Asset Management and Canvas to Establish a Business-Class Hotel and Serviced Apartments

Coinciding With the Launch of Infrastructure Development for Phases Two, Three, and Four, King Hussein Business Park Has Signed Two Investment Agreements With Reynolds Asset Management and Canvas to Establish a Business-Class Hotel and Serviced Apartments

(Amman, Jordan – May 7, 2025): The King Hussein Business Park (KHBP) and Reynolds Asset Management, a US-based real estate investment and development firm, have signed two significant investment agreements.

Reynolds Asset Management, known for its residential developments along the US East Coast and in high-growth markets, is investing in two distinct projects: a business hotel as well as modern service apartments offering flexible living spaces and comprehensive amenities.

The agreements were formalized by Ammar Izziddin, CEO of King Hussein Business Park, and Louis Reynolds, CEO of Reynolds Asset Management. Alongside government officials and media representatives, the signing ceremony was attended by executive project partners, Amjad Hunaiti and Frank Ghusson.

This collaboration marks a major milestone in KHBP’s second, third, and fourth phase development, coinciding with the commencement of infrastructure upgrades and site preparation. The agreements represent a strategic expansion of the park’s vision to attract foreign investment, create job opportunities, and develop sustainable, mixed-use environments that meet the needs of businesses and urban communities—positioning KHBP as a vibrant, inspiring destination.

The hotel and service apartment projects will play a key role in advancing the Park’s strategic objectives. As significant economic drivers, these developments will contribute to the diversification of Jordan’s economy and further expand its urban, economic, and investment achievements. The projects align with a broader national vision to position the Kingdom as a regional hub, not only for investment across traditional and emerging sectors but also as a desirable destination for work and living, in accordance with royal directives and the goals of the Economic Modernization Vision.

Beyond their economic value, the developments are expected to drive activity across various sectors including engineering, construction, ICT, and services. The project will generate direct and sustainable job opportunities, with a focus on Jordanian youth employment and local workforce development through training programs and community engagement.

The hotel will combine elegant architecture with contemporary amenities to offer a premium hospitality experience for business travelers and tourists. In addition, the service apartments will include modern, fully equipped units tailored to the needs of long-term guests, investors, and professionals working in the Kingdom. Both developments will be built with a commitment to environmental sustainability, reflecting the green principles embedded in KHBP’s second and third development phases.

Ammar Izziddin expressed pride in the partnership and lauded the official attendance as a testament to the park’s growing global appeal as a destination for investment. He emphasized that the agreements reflect KHBP’s strong track record and the continued commitment to building on the success of the first phase by introducing new, high-impact components that support the growth of a thriving, integrated community built for sustained innovation.

On the other hand, Louis Reynolds described the venture as a promising investment opportunity. He highlighted the strong reputation and business-enabling advantages of King Hussein Business Park, particularly its world-class infrastructure and advanced ICT capabilities, as key factors that reinforced investor confidence in Jordan. Reynolds further noted that this project represents a valuable addition to Reynolds Asset Management’s growing portfolio and marks an important step in its expansion into new markets, in close collaboration with its executive partners.

It is worth noting that Phases Two and Three of the King Hussein Business Park will be implemented at an estimated cost of JOD 8.5 million, covering a total area of 463 dunums with specific development allocations subject to adjustment. The new phases will introduce a wide range of facilities, including commercial buildings, roads, parking, green spaces, offices, retail spaces, and dedicated buildings for data storage and medical simulation. This is in addition to the hotel, service apartments, and various entertainment and sports facilities, creating an integrated environment after having redefined real estate investment since its inception.

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About King Hussein Business Park (KHBP):

King Hussein Business Park is one of Amman’s most dynamic and strategically located business hubs. Established in 2010 and developed by the Business Park Company, KHBP offers an integrated and secure environment for leading local, regional, and international companies. Its innovative, mixed-use urban design combines business, residential, hospitality, and recreational spaces, all built to international sustainability and environmental standards.

The park fosters a vibrant commercial ecosystem with world-class infrastructure, promoting investment, business growth, and community well-being. It aims to shape the future of business and urban development in Jordan through continuous expansion and smart planning, with integrated, multi-use projects centered on people. It also seeks to strengthen its position as a fully integrated, technologically advanced smart city that fosters creativity and innovation in Jordan and across the region.

Today, KHBP is home to over 295 startups, 85 local companies, 24 regional firms, and 20 international corporations, employing approximately 8,000 professionals across diverse sectors. The park presents unique investment opportunities through a comprehensive master plan that seamlessly integrates business, residential, hospitality, and retail spaces. As part of its long-term development strategy, KHBP is launching its second phase, covering 463 dunums. This next phase will offer new investment opportunities across a wide range of areas, including commercial buildings, roadways, parking, green spaces, offices, retail outlets, data centers, medical simulation facilities, a hotel, service apartments, and various recreational and sports amenities.

About Reynolds Asset Management:

Reynolds Asset Management is a vertically integrated real estate investment and development firm headquartered in New Jersey. Founded in 2008, the firm primarily focuses on the development and management of multi-unit residential communities along the East Coast of the United States, while also expanding significantly into other regions, including Ohio, Texas, and Louisiana. Committed to growing its real estate portfolio, the firm has recently concentrated on markets experiencing population and economic growth, pursuing a strategy centered on acquiring new projects or enhancing existing communities.