Jordanian Real Estate Market Outlook - 2009  

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.