The Jordanian real estate market witnessed substantial growth during the
past decade reaching a value of 4.5 billion Jordanian Dinars during the
first eight months of 2008 and registering a growth of 9 per cent versus the
same period in 2007.
Despite the recent global financial crisis (in the last quarter of 2008)
that had a major negative toll on the international and regional real estate
sector, the Jordanian real estate market will witness a limited corrective
phase given the various economic buffers in place, namely: reformed public
policies and legislations regarding the Tenants Law, market characteristics
such as a realistic size in the number of projects compared to the region,
stability and security in the Kingdom, in addition to the conservative loan
policies adopted by the local banking system.
As for Mawared, the well-studied and long-term investment strategies adopted
have ensured the continuation and progress of the various projects currently
underway. For 2009, progress in the Jordanian real estate market is expected
to continue at a stable pace.