Latest news with #JFDZ
Zawya
15-05-2025
- Business
- Zawya
Jordan: JFDZ announces resolution of 11 stalled dead sea projects, unveils new development strategy
AMMAN — The Jordan Free and Development Zones Group (JFDZ) on Wednesday has successfully resolved a long-standing backlog of "stalled" investments in the Dead Sea Development Zone, signalling a "new" chapter for the region's growth and revitalisation. JFDZ Chairman Sakher Ajlouni, announced that all 11 "troubled" investment agreements, some of which had been inactive since 2011, have now been legally and amicably settled. The move is part of broader efforts to reset the investment landscape and prepare the area for high-impact development opportunities. The resolution process involved a case-by-case review of contracts, offering flexibility to some investors while mutually terminating others, all without financial losses to the state. Ajlouni emphasised that the aim was not just to close a chapter, but to clear the path for future projects aligned with national development goals, the Jordan News Agency, Petra, reported. As part of this reset, the Group is currently updating the region's "master" development plan, originally drafted in 2011. The new version is being shaped by recent market research, shifting investor priorities and the Kingdom's economic modernisation agenda. The updated blueprint is designed to encourage strategic, sustainable investment while making better use of available land and resources. Ajlouni stressed that the new plan will provide clear guidance for investors and stakeholders, striking a balance between economic growth and environmental preservation. Final approval is expected in the near future. Director General of the Development Zones Mohammad Al Wakid, added that the total value of the resolved projects was around JD58 million. These included lease-to-own and development contracts, two of which have now resumed work on-site. He explained that the delays were primarily due to weak financial planning by investors and mismanagement of contracts issues that persisted despite "generous" government support, including payment flexibility and exemption from penalties. Five major tourism projects are under construction in the area, with some already open and others nearing completion. These initiatives are part of a broader action plan to reposition the Dead Sea as a "prime" destination for both investment and tourism. Wakid concluded by noting that although the state lost valuable time due to previous project failures, the region is now poised for a "fresh" wave of development. With past obstacles removed, the "focus" shifts to attracting capable investors and transforming the Dead Sea into a "model" of sustainable growth.
Jordan Times
14-05-2025
- Business
- Jordan Times
JFDZ announces resolution of 11 stalled dead sea projects, unveils new development strategy
The Jordan Free and Development Zones Group on Wednesday has successfully resolved a long-standing backlog of 'stalled' investments in the Dead Sea Development Zone (JT file) AMMAN — The Jordan Free and Development Zones Group (JFDZ) on Wednesday has successfully resolved a long-standing backlog of "stalled" investments in the Dead Sea Development Zone, signalling a "new" chapter for the region's growth and revitalisation. JFDZ Chairman Sakher Ajlouni, announced that all 11 "troubled" investment agreements, some of which had been inactive since 2011, have now been legally and amicably settled. The move is part of broader efforts to reset the investment landscape and prepare the area for high-impact development opportunities. The resolution process involved a case-by-case review of contracts, offering flexibility to some investors while mutually terminating others, all without financial losses to the state. Ajlouni emphasised that the aim was not just to close a chapter, but to clear the path for future projects aligned with national development goals, the Jordan News Agency, Petra, reported. As part of this reset, the Group is currently updating the region's "master" development plan, originally drafted in 2011. The new version is being shaped by recent market research, shifting investor priorities and the Kingdom's economic modernisation agenda. The updated blueprint is designed to encourage strategic, sustainable investment while making better use of available land and resources. Ajlouni stressed that the new plan will provide clear guidance for investors and stakeholders, striking a balance between economic growth and environmental preservation. Final approval is expected in the near future. Director General of the Development Zones Mohammad Al Wakid, added that the total value of the resolved projects was around JD58 million. These included lease-to-own and development contracts, two of which have now resumed work on-site. He explained that the delays were primarily due to weak financial planning by investors and mismanagement of contracts issues that persisted despite "generous" government support, including payment flexibility and exemption from penalties. Five major tourism projects are under construction in the area, with some already open and others nearing completion. These initiatives are part of a broader action plan to reposition the Dead Sea as a "prime" destination for both investment and tourism. Wakid concluded by noting that although the state lost valuable time due to previous project failures, the region is now poised for a "fresh" wave of development. With past obstacles removed, the "focus" shifts to attracting capable investors and transforming the Dead Sea into a "model" of sustainable growth.
Jordan Times
08-04-2025
- Jordan Times
Ajloun cable car draws over 10,000 visitors during Eid holiday
The Jordan Free and Development Zones Group (JFDZ) says that more than 10,000 people visited the Ajloun cable car during the Eid Al Fitr holiday (Petra photo) AMMAN — More than 10,000 people visited the Ajloun cable car during the Eid Al Fitr holiday, despite a temporary suspension on the second day due to strong winds, according to the Jordan Free and Development Zones Group (JFDZ). JFDZ Director General Mohammad Wakid said the attraction broke its single-day visitor record on Friday, welcoming over 5,000 people, including citizens, residents, and Arab and international tourists. He also noted the growing public interest in cable car rides as a prominent tourism feature in the Kingdom, the Jordan News Agency, Petra, reported. The JFDZ encouraged visitors to arrive early to fully enjoy the experiences and services offered at the scenic Sawwan site, located 76 kilometres northwest of Amman. The cable car operates daily, except on the first Tuesday of each month. The service forms part of a broader JFDZ campaign to promote Ajloun as a leading tourism destination. The group is also overseeing the development of the Sawwan area as a hub for both tourism and investment.
