Jordan Free Group reveals 50% slash in rental rates at the Dead Sea Development Zone
The move is set to affect Jordan’s hospitality sector
The Jordan Free and Development Zones Group (JFDZG) has reportedly announced a 50% drop in Dead Sea Development Zone’s rental prices.
The move has prompted a call from 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, reported the Jordan News Agency, Petra.
According to the report, JFDZG’s chairman Khalaf Hmeisat said in a statement that a 50% reduction in rents will be offered this year and added that as a pre-condition for the offer, investors must start projects within a specified period.
The chairman reportedly added that the plots of land included in the offer range must be used for either hotels or hotel apartments.