Gov't Unveils Plan to Transform Aqaba into World-Class Living and Investment Destination - Jordan News
Gov't Unveils Plan to Transform Aqaba into World-Class Living and Investment Destination The Cabinet has approved a comprehensive package of incentives aimed at transforming Aqaba into a premier global destination for tourism, investment, and long-term residency. اضافة اعلان The initiative seeks to attract investors, retirees, and professionals from Jordan and abroad particularly from neighboring Arab countries by enhancing the city's appeal as a place to live, work, and invest. The move aligns with Jordan's Economic Modernization Vision and Aqaba's integrated urban master plan, positioning the city to become one of the top 100 global destinations for real estate and quality of life. The decision was made during Sunday's Cabinet session, chaired by Prime Minister Jafar Hassan. Under the new framework, a range of benefits will be introduced, including customs exemptions and long-term residency incentives for foreign nationals. Notably, for the first time, the plan also extends housing incentives to Jordanians purchasing homes within gated residential communities. Buyers who purchase residential property directly from a developer for a minimum of JD 150,000 will be eligible to temporarily import one small vehicle, with annual renewals permitted. The customs exemption on the vehicle must not exceed 25% of the property's value. For purchases of JD 300,000 or more, owners will have the option to import either one or two small vehicles under the same terms, provided the combined exemption does not exceed 25% of the property's value. The package also waives the 5% customs duty and 16% sales tax on the import of personal boats. Each individual will be permitted a one-time exemption for a single boat, strictly for personal, non-commercial use. Any resale or transfer of ownership will require prior notification to the Aqaba Special Economic Zone Authority and clearance of the vessel's customs status. Additionally, non-Jordanian retirees with valid residence permits and sufficient financial means will be allowed to import one vehicle on a temporary basis upon purchasing residential property in Aqaba, with no minimum value required for the property. Foreign property owners will also benefit from a one-time exemption on customs and duties for importing household furnishings. Those who purchase property valued at JD 150,000 or more will be granted extended residency permits covering both themselves and their dependents. Aqaba currently offers around 1,100 residential units within gated communities including apartments, villas, and chalets with an additional 1,200 units set to break ground in the coming months.
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