Jordan Real Estate

Jordan is considered as one of the fastest rising countries in the field of business and investment. The state of economic growth in the country has been stable over the past decades, along with a steadily increasing rate of GDP. Much of this economic progress has been credited to the controlled structural improvement of the major metropolitan areas in the country, particularly its capital city.

Amman is the capital city of Jordan. Over the past few years, the government of Jordan has focused solely in the expansion of this economic center. The city development plan shows that the progressive steps taken are focused on the improvement of housing and other real estate properties in the area. Infrastructure development is the key step taken and as a result, more and more immigrants are taking opportunities within Jordan's financial and economic hub.

Aside from the improvement of real estate property, steps have been taken to increase investment in the country, especially foreign ones. Recently, the government of Jordan has passed the Investment Promotion Law of 1995, granting equal opportunities and privileges to investors that are Jordanian and those that are not. Though there are still some trade and contracting services that requires a Jordanian as an incorporator or partner, the law provides several improvements in the part of foreign investors when it comes to tax exemptions, customs duties, tax holidays, and the like. Among the most aggressive steps taken is the granting of tax exemptions to export oriented industries that are owned by foreigners. Aside from the new law, the government of Jordan also signed a Free Trade Agreement (FTA) with the United States. The said agreement virtually erases the trade limits between the two countries in terms of taxes and licenses.

The investment opportunities in Jordan do not end with improved legislative measures in investment and trade. Rather, the country's openness to trade and investment extends to the point of offering a government agency made solely to support, guide and aid prospective foreign investors. The country has the JIB, which stands for the Jordan Investment Board. JIB serves as a one stop shop when it comes to foreign trade and investment. The board guides an investor in choosing the right types of investments and property, obtaining licenses, and opening and maintaining a healthy and prospering investment.

To properly guide investors in choosing where to acquire a potentially productive property and investment, the government of Jordan has assigned specific areas that are found to be economically stable. These areas are known as the Qualified Industrial Zones or QIZs. Products manufactured in such zones are open for free trade to the United States.

Apart from the QIZs, Jordan also has a Special Economic Zone (SEZ) assigned by the Aqaba Special Economic Zone Authority (ASEZA). Just like Amman, QIZs and special economic zones are prioritizes in terms of infrastructure development and economic improvement. Such focus was made to improve the investment climate in the said areas.

At the moment, economists view Jordan's continuous economic improvement. Aside from a steadily heightening rate of GDP increase, the country also enjoys an increasing foreign investment rate and a low unemployment percentage. Much of the success is owed to the developed real estate properties, particularly the factories and other establishments in the QIZs and the SEZ. Figures show that since the establishment of such zones, more than twenty thousand jobs have been opened to the locals and immigrants of Jordan. At the moment, the government of Jordan looks forward to continuous economic success as its various port areas are being transformed into SEZ ports. As identified by economists, the improving economic state of the country was also improved through the passing of investor-friendly trade policies, and minimal bureaucratic control.