Kabariti: Real estate decision will boost sector, economy

Amman, Jordan Chamber of Commerce President Nayel Kabariti Saturday said the latest government decisions to spur the sluggish real estate sector will also stimulate the trade and business sectors.

Among the procedures adopted by the Council of Ministers on Wednesday was lowering the basic price offering of real estate by 20% to better align with the market value and exemptions from fees levied on ownership transfer.

In a press statement, Kabariti said the new measures are in the interest of the national economy and the citizens, and will reflect on the activity and robustness of the real estate sector, which is a key engine for many other economic sectors.

The decisions, he pointed out, come at a time the national economy is facing many hardships, commending the government’s response to private sector demands in this regard.

Source: Jordan News Agency