The Foreign Ownership of Land in Jordan

Analysis

In a climate of regional unrest and political instability, Jordan's relatively safe political and economic environment is proving increasingly attractive to foreigners seeking to invest their money in the region.

In the year of the Arab Spring alone the value of Arab and foreign real estate purchases in Jordan skyrocketed, with the total value of investments reaching 449 million dinars ($630 million), according to a study conducted by the Ministry of Finance (Lands and Survey Department) (“the Survey Department”). In terms of the market value of the purchased property, Iraqis ranked first with an aggregate investment value of over half the total value of property purchased by foreign nationals.

Foreign Ownership of Land

Foreign ownership of Jordanian land and assets is governed by The Leasing of Immovable Assets, and Their Sale to Non-Jordanian and Judicial Persons Law No 47of 2006, (the “2006 Law”) which repealed all previous laws in this regard.