Construction & Real Estate
From The Report: Jordan2015
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The year 2014 was marked by strong growth in the construction sector and despite regional volatility slowing rollout for tourism projects, new developments in the residential, transport and energy sectors are expected to continue fueling growth. Indeed, credit extended to the construction sector in 2014 totalled $658m, up from $569m in 2013. In terms of real estate, 2014 saw trading continue to grow along with steady rises in property prices, especially in Amman. Although oversupply in the retail, high-end residential and commercial markets has been a cause for concern, the high prices for land are expected to cause a slowdown in development while regional instability will also reinforce Jordan’s safe-haven status as a selling point for international businesses seeking to set up shop in the region, thus keeping up a steady flow of foreign demand.

This chapter contains interviews with Hani Mulki, Chief Commissioner, Aqaba Special Economic Zone Authority; and Taha Al Zboun, CEO, Dead Sea Development Zone.

Articles from this Chapter

Overview

On a roll: Established firms and newcomers vie for shares in new projects
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The year 2014 was marked by strong growth in the construction sector, which has become well established as one of Jordan’s key economic drivers. New companies are also entering the market, with an eye towards gaining a share of a major pipeline of projects now beginning to get under way – developments spanning the transport sector, residential real estate, energy grids and liquefied natural gas (LNG) terminals. In all of this, the government is a major client as it seeks to implement national…

Interview

A diverse destination: OBG talks to Hani Mulki, Chief Commissioner, Aqaba Special Economic Zone Authority (ASEZA)
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Interview:Hani Mulki How is ASEZA working to attract and retain tourists, and lengthen their stays in Aqaba? HANI MULKI: ASEZA is promoting a sub-brand for Aqaba under the national brand of the kingdom. Part of our strategy is to attract local, regional and international tourists. We are working to create an environment that is conducive to longer stays. In addition to its beaches and sunny weather, Aqaba is an industrial and logistical hub, and is becoming a supplier of renewable energy…

Overview

Filling in the gaps: Improving affordable housing options remains a priority, as property values climb
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Despite some challenges for Jordan’s economy, 2014 saw trading in real estate continue to post healthy growth along with steady rises in property prices. This was especially true in the capital, Amman, where pressure on land and sought-after areas in the city centre has kept returns high for investors. Elsewhere, the need for lower-cost housing continues to grow, with government schemes aimed at meeting this demand now under way. External factors are also affecting the kingdom’s real estate…

Interview

Open for business: OBG talks to Taha Al Zboun, CEO, Dead Sea Development Zone
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Interview:Taha Al Zboun What more can be done to change the perception that political instability within the region threatens Jordan’s safety and security? TAHA AL ZBOUN: Despite external regional threats, Jordan has remained peaceful and stable, and continues to welcome visitors from all corners of the world. To reassure prospective visitors of the country’s safety, the government is developing a communication plan through the Jordan Tourism Board, using both conventional and social…