|11 June, 2019

Jordan free zone group drops Dead Sea rates in bid to attract investments

Decision, effective for remainder of year, targets hospitality, trade sectors

Image used for illustrative purpose. A general view shows tourist hotels on the shore of the Dead Sea, Jordan, November 13, 2018.

Image used for illustrative purpose. A general view shows tourist hotels on the shore of the Dead Sea, Jordan, November 13, 2018.

Reuters/Muhammad Hamed

AMMAN — The Jordan Free and Development Zones Group (JFDZG) has recently announced a 50 per cent drop in Dead Sea Development Zone (DSDZ) rental prices, calling on investors to take advantage of the opportunity.

The decision aims at stimulating investments and developing the zone’s land to target the hospitality and trade sectors, JFDZG Chairman Khalaf Hmeisat said in a statement carried by the Jordan News Agency, Petra.

A 50 per cent reduction in rents will be offered this year, Hmeisat said, adding that as a precondition for the offer, investors must start projects within a specified period.

The plots of land included in the offer range from 1.5-50 dunums and must be used for either hotels or hotel apartments, Petra added.

Hmeisat underscored that the stimulus package stipulates the rental of public lands and not their sale.

The DSDZ is 55km south of Jordan’s capital Amman and is located on the shores of the Dead Sea, according to JFDZG website, which adds that 9km of the zone’s northern edge and less than 1km of its western edge border the Wadi Al Mujib Nature Reserve.

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