Commercial Buildings for Sale in Jordan

"Rise" is the first word that occurs to you whenever you talk about the economic situation in Jordan, and this "ugly truth" is a matter of concern to many workers and owners of large and small projects. Cement prices increased by 100%, oil derivatives' prices increased as well, these are the main reasons for the ongoing increase in prices in the last few years.

It is noticeable that many housing companies withdrew themselves during the last years, which indicates that some companies were affected by these rise in prices which –in turn- will affect the status of the real estate in general. The huge increase in lands' prices and the raw materials used in building properties caused prices to rise by about 10%. The huge number of Iraqi and Syrian immigrants is another main reason for this rise.

It is worth mentioning that lots of huge projects are being set up in the kingdom, like "Al-Abdali" project, which is located in the middle of the capital of Jordan "Amman", it is one of the major development projects, and the area of this project is 384 square meters. Towers, hotels, residential apartments, offices, shopping malls, entertainment and educational centers are being built in this project. It is expected that when this project is finished, it will create many jobs opportunities in different fields, to prove that Amman can emulate all the cities in the world. "Saraya" and "Marsa Zayed" are worthwhile touristic projects in Aqaba, "Marsa Zayed" is one of the largest projects in Jordan in which towers, entertainment places, and commercial properties will be built.

And since commercial properties are usually being rented, it is noteworthy that rental prices increased too, the law announced lately -regarding the landlord and the renter- led to this increase, this law gave the landlord the right to increase the rent in accordance with the nearly shops.

"Vacancy" a serious problem of the commercial real estate

First off, what is "vacancy"? And why was it created? It is an amount of money the new renter pays for the previous one in order to get the commercial shop. In general, the vacancy is considered to be a right of the previous renter since he himself paid a vacancy when he previously rented the shop, and of course its amount should be reasonable, and the government should determine a maximum for it in order to prevent exploiting the new renter because he needs the shop, some vacancies of shops that are located in commercial or vital streets reached about JD 20 thousand or more, this is the price of some shops in other areas in Jordan, let alone the huge and large shops. One has to pay a vacancy for a new property in spite of the fact that the word itself means "to empty" the shop!

There are lots of commercial and vital streets in which you can set up your project, some of them are known for their restaurants, others for the commercial offices. This is almost the case in the other governorates, so you should choose the region according to your project.