INTERVIEW

76 Gulf Property

Adeveloper in theWest Bank is offer-ing to Palestinians aleisure destination,where they can not

only have fun, but can alsochoose to live. Located deepinto the Palestinian heart-land, where the clouds ofconflict with Israel do notloom, ‘Jericho Gate’ is an un-precedented residential cumtourism project that com-prises entertainment facilitiesincluding villas, hotels, re-sorts, a sports city, amuse-ment and water parks andshopping malls, among oth-ers.Jericho Gate is a collabora-

tive venture between leadingPalestinian real estate devel-

opers PADICO Holding andPRICO, and tourism com-pany PALTEL. For more thantwo decades, these trustednames built the Palestinianeconomy through strategicinvestments in key sectorsguided by a far-reaching vi-sion for growth and sustain-ability. Besides offering aleisure destination to fun-starved Palestinians, the de-velopers of Jericho Gate alsohope to boost the economythrough job creation and ex-pansion of infrastructure. In an exclusive interview

with Gulf Property, Dr. SamirHulileh, CEO of Padico Hold-ing reveals details about theproject, the importance ofJericho and how he hopesJericho Gate will changelives:

Gulf Property: Please giveme a brief overview of your

company.Samir Hulileh: Jericho GateCompany was established in2011 by PADICO Holdingand PALTEL with an initialcapital of JOD35 million. The Jericho Gate project is

being developed on a 3,000dunum (300 hectares) plot ofland bordering the city ofJericho. The land has beenacquired to construct a mixof residential villas, commer-cial real estate areas, recre-ational and sportsattractions, lakes and gar-dens.

How big is the workforce?Do you operate just fromRamallah or do you havebranches; if yes where?Through our stakeholders,we have solid representationnetworking channels in Jor-dan and Palestine. Our com-pany is a projects’ company

owned by PADICO Holding &PALTEL.

‘Jericho Gate’ is not just areal estate project but aplanned city, with specialamenities. Can you elabo-rate on the salient featuresof this project?The project will consist of agroup of zones. Referencewill be made to the uniquearchitecture of the area in thedesign of the project. Thezones will include:a) Residential Zone - Ap-

proximately 1,500 villas to bebuilt in phases. Villas willrange between 2 to 4 bed-rooms. The residential zonewill have communal space(mini entertainment andrecreation zone for resi-dents) such as a market,multiple green spaces, andcommunal spaces for kids’activities.

By Indrajit SenSenior Reporter

Jericho Gate: A leisurezone for PalestiniansJericho Gate: A leisurezone for Palestinians

INTERVIEW

Gulf Property 77

racing, cabanas and barbe-cue areas. A variety of activ-ities will be offered such ashiking, horseback riding,camel trekking.

For developing a mix-usedcommunity of this magni-tude, it is obvious thathuge amount of moneyhas been invested. Sowhat is the total value ofinvestment for this proj-ect? What has been thesource of finances? HasJericho Gate taken a bankloan?Our company will investaround US$150 million inbuilding the infrastructure.However, more developerswill be welcomed to invest inthe project, reaching a totalof US$2.5-3 billion.

What is the pricing struc-ture of housing units inJericho Gate? How wouldyou rate living in JerichoGate as: Affordable or ex-pensive?Residential Homes in JerichoGate is rated as affordableluxury. Prices typically canrange from US$85,000 –220,000 for housing in Jeri-cho Gate, depending uponits size and amenities whichare included within the villas.

Which hotel, retail and cin-

ema unit will Jericho Gatehouse?Sales for retail investmentopportunities in Jericho Gatehave just recently opened.We have received severalportfolios of interested in-vestor candidates and areseeking more. For those whoare interested, they can di-rectly contact our offices andthey can set a meeting withour sales team accordingly.

The entertainment arenasat Jericho Gate is a raredevelopment in Palestine.Kindly elaborate on thisfeature of the project. Howpopular do you think thewaterpark, museum, etcwill be?The entertainment feature inJericho Gate is a UniqueSelling Point (USP) for ourinvestment, as Jericho andPalestine in general are un-derserved in the entertain-ment and leisure sector.There is a strong local de-mand for active leisure facili-ties, and most outdoorentertainment activities re-quire large flat land which isboth available and inexpen-sive in Jericho Gate. In addi-tion, the temperate climate inJericho year-round encour-ages entertainment activitiesspecially those outdoor (suchas the water park).

Has construction begunon the project? When doyou expect to finish andhand over possession ofthe residential units to thebuyers/investors? Whenwill the entertainment zonebe ready for visitors?This vision is becoming a re-ality. The company has fi-nalised the concept designand the master plan for theland. We have started work-ing on the infrastructure. Jeri-cho Gate is attractinginvestors to be part of theproject’s spirit of a gloriouspast and a brighter future.

What is your marketingstrategy for the project inthe UAE and other GCCcountries? How has beenthe response so far? Areinvestors from Dubai andthe GCC pooling money infrom Jericho Gate?We are targeting local and in-ternational investors and ourinvitation to come and investin Jericho Gate has had agreat response from severalGCC investors, especiallyPalestinian expats investors.

Are you receiving supportfrom the Palestinian gov-ernment for Jericho Gate? The project is located in areaA and it has the assistance oflocal authorities. g

b) Touristic Zone - A clusterof four different hotels rang-ing from pilgrim budget ho-tels, 3 stars and 4 starsaccommodation, a chaletcommunity will all be in-cluded in this zone to catertowards the tourism sector.c) Cultural Zone - It will be

the focal point of the project.It includes a museum, galleryand fountain like public spac-ing. Art activities will coverpainting, sculpting, photogra-phy classes, embroidery,weaving and other artistic re-lated activities. Guest artistswill offer workshops on peri-odic basis. Sound and lightwill also be part of this zone,along with other perform-ances at the amphitheatre.d) Retail and Entertain-

ment Zone – This will includethe souk, retail market cen-tre, restaurants, an artificiallake and waterfront land. Theconcept is to have a walkwayarea around the lake andrestaurants. The restaurantswill embrace the walkwayaround the lake. The soukand market centre will be anindoor/outdoor piazza.e) Nature Zone – This will

focus on nature parks, spaand Bedouin tents.f) Recreation Zone – It will

be the centre of activities andsports. It will include a di-verse arena, water Park, kart

“The entertainment feature in Jericho Gate is aUnique Selling Point (USP) for our investment, asJericho and Palestine in general are underservedin the entertainment and leisure sector. There is astrong local demand for active leisure facilities.”

-- Dr Samir Hulileh, Chief Executive Officer,

Padico Holding