AMMAN (JT) — Areas of land licensed for housing construction were the highest during the last thirteen months, according to initial figures issued by the Central Bank of Jordan (CBJ).
According to figures put on the CBJ's website, Amman had the lion's share of the construction for housing and other purposes.
The Governorate of Irbid came second in terms of the areas of land licensed for housing purposes while the Zarqa Governorate rated second in terms of the construction licences granted for non-housing purposes.
The CBJ's figures also showed that there was a high increase in the number of licences issued for construction and the areas allotted for construction during last May, in particular.
Meanwhile, a JD160 million new real estate company was launched this week to carry out housing projects for the low-income segment.
The United Arab Investors Company (UAIC) formed a strategic partnership with Al Dahleh Trading Group, which has already started a mega housing project targeting the elite.
UAIC General Manager Younes Qawasmeh said in a press conference that 90 per cent of the new company's capital will be Jordanian investments but that some government bodies will take part in the project to ensure a role for the state in the projects that meet the demand of a large section of the population, especially young people who hope to own houses they can afford.
Qawasmeh said his company seeks to build "residential towns" where high quality housing units are sold at competitive prices. The company aims to reach agreements with the Jordan Armed Forces and the government whereby it would construct houses on lands provided by those two parties in addition to lands that will be bought directly from private owners.
The project will be connected with the Canadian Housing and Real Estate Mortgage Company, a 264 million company that works as intermediary to facilitate the loans to low-income citizens, Qawasmeh said.