Aqaba: The Aqaba Special Economic Zone Authority (ASEZA) on Monday announced a new package of investment and regulatory incentives targeting economic, real estate, and residential sectors in the Aqaba Special Economic Zone.
According to Jordan News Agency, Chief Commissioner of the ASEZA, Shadi Majali, revealed that the incentives include significant reductions in fees related to changes in land-use designation, offering discounts of up to 75 percent. These reductions apply to proposed projects involving rezoning, expanded land areas, and increased building heights. Existing buildings will benefit from discounts of up to 66 percent.
Majali emphasized the introduction of a progressive incentive scheme linked to project completion timelines. Projects completed within 12 months can achieve discounts of up to 90 percent, while those completed within 18, 24, and 30 months are eligible for 70 percent, 50 percent, and 30 percent discounts respectively. This initiative aims to expedite project execution.
The incentives extend to parking-related fees across various sectors, including commercial, tourism, hospitality, residential, industrial, medical, and educational activities. The measures also target development areas such as al-Shalala, al-Khazan, the Old City, and Salah al-Din, aiming to lower operating costs and promote urban expansion.
Majali highlighted additional economic incentives to support investment activities, including a full exemption from the initial registration fee with the ASEZA, previously set at JD1,000, and a reduction in economic activity registration fees to JD300 from JD500. Waste collection and transportation fees will also see reductions under the new framework.
In the tourism sector, notably in Wadi Rum and diving villages, the ASEZA has approved a rent exemption for tourist camps for 2025, provided outstanding balances are settled or rescheduled. Camps holding the "Green Key" certification will receive full exemptions from rent and licensing fees for 2024 and 2025, reinforcing sustainable ecotourism efforts.
The package is part of ASEZA's strategy to enhance Aqaba's investment environment, stimulate economic activity, and accelerate development projects. It seeks to provide practical support to investors, developers, and residents by encouraging project implementation across multiple sectors.
Mohammad Abu Omar, Commissioner for Economic Affairs and Investment at the ASEZA, stated that the package aims to reinforce Aqaba's position as an attractive and flexible investment destination. The ASEZA is focusing on attracting investments in priority sectors like industry, information technology, and tourism to promote economic diversification and job creation.
Al-Mu'tasim Hindawi, Commissioner for Infrastructure and Urban Affairs at the ASEZA, noted that the regulatory incentives are designed to stimulate urban development and accelerate project implementation. By introducing greater flexibility in planning procedures and addressing regulatory challenges, the amendments aim to enhance the economic feasibility of projects and facilitate implementation in areas with strong development potential.