Under the auspices and in the presence of his Excellency President Mahmoud Abbas, PIF announced the start of development works for the Moon City Project in the Jericho and Jordan Valley governorate. The project, launched by PIF over an area of 1800 dunums, will be developed by Amar Real Estate Group, a subsidiary of PIF. Once completed, the Moon City will be an integrated city with a strategic location, a modern urban plan, and advanced infrastructure.

Dr. Mohammad Mustafa, Chairman of PIF Board of Directors, said : “ we are pleased today to see his Excellency President Abbas here with us as we present to him the initiatives of PIF that are aligned with the Palestinian leadership’s vision of the need to develop the Palestinian parts of the Jordan Valley given their national, political and geographic importance. We confirm that the Moon City Development Project is an extraordinary project in an extraordinary location. It embodies the national vision led by President Abbas to build the country we deserve, at the heart of which is the Jordan Valley-despite the tremendous difficulties.”

Dr. Mustafa added : “PIF was able to transform this area to attract investments by preparing plans for a complete and integrated city over an area of 1800 dunums, including advance infrastructure, commercial, touristic, and recreational facilities, and a total investment amount of US$500 million dollars.”

Dr. Mustafa also added: “the Moon City Project is the largest process of land reclamation in the area. PIF was able to reclaim 3.3 million square meters throughout the different governorates. The Moon City will include 5 major projects under the tourism, trade, industry, real-estate, and energy sectors. Amar Group, a subsidiary of PIF, will implement these projects as the main developer, in partnership with 16 sub-developers.”

Among the projects that the Moon City will encompass, there is a project for residential and touristic accommodation including 1500 rural and touristic housing units, with a total of 10 residential neighborhoods to be built by a group of local investors and developers. This project will extend over an area of 1,200 dunums. Additionally, it will include the establishment of La Casa Touristic project in partnership with La Casa Holding over an area of 70 dunums with 120 touristic villas of various sizes, and a total investment amount of US$22 million dollars.

The city will also include the establishment of a commercial area. This will be a multi-purpose area with touristic, commercial, and recreational facilities that would constitute the commercial backbone for the city over an area of 130 dunums and an investment amount of US$250 million dollars.
Furthermore, and in line with the strategy of comprehensive development of the whole area, plans are being prepared to establish an industrial zone with an investment amount of an additional US$85 million dollars. The industrial zone will be surrounded by a green belt to preserve the environment in the area. In the meantime, the ‘Nour Jericho’ Solar Energy plan was established with a production capacity of 7.5 MW over an area of 86 dunums. It constitutes the largest solar energy plant in Palestine and is located in the same development area.