(By Kate Carlisle) Rome, September 16 - Judges for the Arabian Property awards, set to take place in Dubai on October 24, have named Al Maabar Jordan Investments and its expansive Aqaba development on the Red Sea port as a recipient of the International Property Award that recognizes the world's finest property companies. All companies slated to be given awards have been invited to attend a high-profile gala dinner and awards ceremony at the One & Only Royal Mirage in the United Arab Emirates and Al Maabar is making a return appearance. Last year, the investment company's flagship project in Aqaba, Marsa Zayed, received two five-star awards at the event. The $500-million deal Al Maabar struck with the Jordanian government in 2008 for Marsa Zayed was the country's second-largest ever and it is expected to bring an investment value of over $10 billion. This year, Al Maabar Jordan will be honored at the event for its elegant waterfront Al Raha Village, the first residential neighbourhood in Marsa Zayed developed in Aqaba. It will also be feted for the St. Regis Amman and the Residences at the St. Regis Amman located in the 3.2 km site. The company competed against a number of real estate developers in Jordan to receive this recognition. Maisam Architects & Engineers were tapped for the Best Mixed-Use Development Award for its design of Al Raha Village located at the southern edge of Marsa Zayed, while architecture and engineering firm Dar Al Omran's project for the Sheikh Zayed Masjid neighborhood at the northern side of it was honored with the Best Public Service Architecture Award. Al Raha Village, located on the southern edge of Marsa Zayed, is made up of around 500 residential homes, featuring both apartments and townhouses. The 3.2 million-square-meter Marsa Zayed development is the largest mixed-use development project ever conceived in the region and is currently in its first phase of development. Al Maabar Jordan is also developing the St. Regis Amman and the Residences at the St. Regis Amman. This 18,000-square-meter development will comprise of three 17-storey towers; one will host the St. Regis Amman hotel, while the other two will contain the Residences at the St. Regis Amman, boasting 79 exquisite private residences. The project will include a number of luxurious amenities, as well as high-end retail and dining facilities. The Arabian Property Awards are part of the long-established International Property Awards, the world's richest competition when measured by the value of the projects entered. The Arabian Property Awards rank amongst the most prestigious commendations in the residential and commercial property industries. A high-calibre jury of international experts consisting of approximately 70 professionals identifies the most significant building projects as well as the highest quality Arabian real estate agencies. At the end of the year, the highest scoring winners from the Arabian Property Awards will compete against other winning companies from Africa, Asia, Europe, the UK and the Americas to find the world's best in each category.