Ammon – The Board of Commissioners of the Aqaba Special Economic Zone Authority decided to launch a package of incentives for investors, real estate developers and citizens within the strategic directions aimed at stimulating reconstruction, enhancing the investment environment, and supporting economic and real estate projects that contribute to the process of sustainable economic, tourism, commercial, social and urban development, in addition to providing new job opportunities in Aqaba.

First: Adopting new equations to calculate rezoning revenues from modifying the type of use, heights, and acquired areas, with the aim of encouraging developers and citizens to reconstruct, by reviewing the values ​​of rezoning revenues that were affected by modifying the administrative prices of lands, and adopting new flexible weight equations that take into account the differences between existing buildings and proposed projects.

Approved equations:
1. Equation of reorganization returns for changing employment status:
The difference between the administrative price of the land for the approved use and the administrative price of the land after adjusting the required use x land area x 25%.

(75% discount incentive).
2. Height gain equation:
(Height gained ÷ height before modification) x Administrative price x Land area x Judgment weight factor (10% for existing and 5% for proposed).
(Discount incentive of 66% for existing buildings and 75% for proposed buildings).

3. Equation of acquired areas:
(Acquired area ÷ Floor area before amendment) × Administrative price × Land area × Judgment weight factor (10% for existing and 5% for proposed).
(Discount incentive of 66% for existing buildings and 75% for proposed buildings)

Second: Providing a package of additional incentives related to reorganization returns linked to the speedy completion of projects, which contributes to supporting real estate developers, stimulating economic and real estate investment, and achieving optimal use of land within the strategic direction of the region.

Approved incentives according to the project completion period:

1. Granting an incentive of (90%) of the value of the proceeds if the project is completed within (12 months) from the date of obtaining the construction license until obtaining the occupancy permit.
2. Granting an incentive of (70%) of the value of the proceeds if the project is completed within (18 months) from the date of obtaining the construction license until obtaining the occupancy permit.
3. Granting an incentive of (50%) of the value of the proceeds if the project is completed within (24 months) from the date of obtaining the construction license until obtaining the occupancy permit.
4. Granting an incentive of (30%) of the value of the proceeds if the project is completed within (30 months) from the date of obtaining the construction license until obtaining the occupancy permit.

This decision comes in the context of the Authority’s move towards creating an attractive economic and investment environment and providing practical incentive tools that contribute to accelerating the implementation of projects, enhancing economic activity and real estate development, and supporting the process of sustainable and comprehensive development for all sectors in Aqaba.

Third: Reducing parking allowances for residential and non-residential uses in Aqaba with the aim of improving the economic feasibility for citizens, real estate developers and investors. If it is not possible to provide them, parking allowances will be collected.

First: Non-residential uses.
Reducing parking fees for non-residential uses according to the following:
1- Commercial, hotel, touristic and multi-use (to become 3,000 dinars instead of 5,000 dinars).
2- Development areas (Al-Shallala, Al-Khazan, Old City, and Salah Al-Din) (to become 900 dinars instead of 1,500 dinars).
3- The fifth, seventh and eighth housing units (to become 2,100 dinars instead of 3,500 dinars).

4- Commercial within the rest of the residential areas (to become 1,500 dinars instead of 2,500 dinars).
5- Industrial (to become 1,500 dinars instead of 2,500 dinars).
6- Warehouses, storage, and craftsmen (to become 900 dinars instead of 1,500 dinars).
7- Hospitals, medical and educational centers (to become 900 dinars instead of 1500 dinars).
8- Government uses (to become 900 dinars instead of 1,500 dinars).
9- The middle beach (cuts on the beach and inland areas) cancel the item
It includes commercial, hotel, tourist and multi-use plots (making it 3,000 dinars instead of 8,000 dinars).
10- Middle Beach (Corniche Street): canceling the clause and including commercial, hotel, tourist and multi-use plots (to become 3,000 dinars instead of 10,000 dinars).

Second: Residential use
The Council set reduced values ​​for parking allowances in various residential areas in Aqaba, taking into account the different locations and according to tables prepared for this purpose, which can be viewed at the authority concerned with construction permits.

Third: Lands not connected to a public road.
Regarding plots of land that have no connection to a public road except through a public pedestrian walkway or public staircase, parking allowances are collected as follows:

1- In residential use, parking allowances are not collected from the owner if the number of apartments is four or less. If the number of apartments exceeds four, parking allowances that exceed the additional apartments are collected according to the tables approved by the Authority.
2- In non-residential use, parking allowances are not collected from the owner for the first (50%) of the regulatory approved floor area for the entire plot area in each area, and parking allowances must be collected for the remaining floor spaces according to the schedules approved by the Authority.