Aqaba, March 9 (Petra) -- 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.
During a press conference, Chief Commissioner of the ASEZA, Shadi Majali, said the incentives include substantial reductions in fees related to changes in land-use designation, with discounts reaching up to 75 percent in some cases. Reductions of up to 75 percent will apply to proposed projects involving rezoning, expanded land areas, and increased building heights, while existing buildings will receive discounts of up to 66 percent.
Majali added that the ASEZA has introduced a progressive incentive scheme linked to project completion timelines, with discounts reaching 90 percent for projects completed within 12 months, 70 percent for projects completed within 18 months, 50 percent within 24 months, and 30 percent within 30 months, in a move designed to accelerate project implementation.
The package also includes reductions in parking-related fees across a range of sectors, including commercial, tourism, hospitality, residential, industrial, medical, and educational activities. The incentives also apply to development areas in the city, such as al-Shalala, al-Khazan, the Old City, and Salah al-Din, aiming to lower operating costs and support urban expansion.
Majali said the measures also introduce direct 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 be reduced under the new framework.
In support of the tourism sector, particularly in Wadi Rum and diving villages, the ASEZA approved a rent exemption for tourist camps for 2025, provided outstanding balances are settled or rescheduled. The rescheduling requires a 25 percent down payment, with the remainder payable in monthly installments over a period not exceeding 24 months.
Majali added that tourist camps holding the "Green Key" certification will receive a full exemption from rent and licensing fees for 2024 and 2025 as part of efforts to support sustainable ecotourism.
He stated that the package forms part of ASEZA’s efforts to enhance the investment environment in Aqaba, stimulate economic activity, and accelerate development projects. He noted that the measures aim to provide practical support to investors, developers, and residents by encouraging the implementation of projects across multiple sectors.
For his part, Commissioner for Economic Affairs and Investment at the ASEZA, Mohammad Abu Omar, said the package aims to reinforce Aqaba’s position as an attractive and flexible investment destination. He noted that the ASEZA is focusing on attracting investments in priority sectors, including industry, information technology, and tourism projects, due to their role in promoting economic diversification and generating employment opportunities.
Meanwhile, Commissioner for Infrastructure and Urban Affairs at the ASEZA, Al-Mu'tasim Hindawi, said the regulatory incentives are designed to stimulate urban development and accelerate project implementation by introducing greater flexibility in planning procedures and addressing regulatory challenges that may hinder development.
He added that amendments related to rezoning fees, building height allowances, and land connectivity to public roads will enhance the economic feasibility of projects and facilitate implementation, particularly in areas with strong development potential.
//Petra// AJ
