Construction & Real Estate

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.